Shanti Act Opens Nuclear Sector to Startups, Small Players: Jitendra Singh

"This has opened opportunities for all sections -- not only established players, but also small players and potential entrepreneurs," Singh said while addressing 10th Sustainable Business Futures Summit 2026 held by the FICCI in the national capital, adding, "even young boys and girls can come together, form a group, raise money and set up small reactors."

Addressing a sustainability event organised by FICCI, Singh described the Shanti Act as "one of the most landmark legislations" focused on the sustainable harnessing of nuclear energy, and said it reflects a shift in policy thinking.

"This was a decision for which there was no demand. Nobody asked us to open the nuclear sector to private players. Even the industry didn't ask," he said. "But it did happen... which means we are ready to break some of the taboos of the past."

He stressed that the reform marks a move away from siloed functioning. "The age of silos is over, we have to work in synergy... the private sector has to be as much prepared as the public sector," he said.

Singh said nuclear energy would play a critical role in meeting future demand for reliable clean power, particularly from emerging sectors. "When we talk of data centres and AI centres, they would require 24x7 green source of energy... even renewable sources may not be ideally suited," he said.

Referring to enabling provisions, he said regulatory norms have been structured to encourage broader participation. "If you want to put up a small reactor... your liability, if an accident happens, will be less than Rs 1,000 crore," he said, adding that foreign direct investment provisions and funding support mechanisms have also been opened up.

Placing the move in a broader economic context, Singh said India's transformation over the past decade has been driven by evidence-based progress.

"When this government came in 2014, we were described as among the 'fragile five'... just a decade later, we are among the first five, and now number four. Very soon, we will be number three," he said.He also cited global benchmarks to underline the shift. "The Global Innovation Index... today we are ranked 38th," he said, pointing to improvements in innovation capacity.

Highlighting the startup ecosystem, Singh said India now has more than 2 lakh startups generating over 21-22 lakh jobs. "Almost 50 per cent of these startups come from Tier 2 and Tier 3 cities... and around 35 to 40 per cent are women-led," he said.

At the same time, he emphasised that future growth must move beyond "jugaad" and align with environmental priorities. "To become a respectable economy, besides being a sustainable economy, you will have to ensure that you do not disturb environmental stability but also endeavour to add to it," he said.

He underlined the concept of "green critical infrastructure" as encompassing economic growth, technological innovation and climate responsibility, supported by investments in energy storage, grid management, climate modelling and advanced materials.Referring to climate commitments, Singh cited the net-zero target for 2070 announced by Narendra Modi and the Lifestyle for Environment (LiFE) initiative. "If you don't have life, it would be of no use to have green buildings or green roads," he said.

He also highlighted the shift towards a circular economy. "Nothing is waste today," he said, citing initiatives that convert waste into economic value. Referring to nationwide campaigns, he said, "in five campaigns... we have earned about Rs 4,000 crore," underscoring the scale of the waste-to-wealth model.

Singh added that programmes spanning electric mobility, water security and recycling reflect India's effort to ensure growth that is holistic, inclusive and sustainable. "Unless you have a mass movement, you cannot grow as green as you think you can grow," he said.

- ANI