India needs to review its financing framework and strengthen its skilled workforce to achieve its ambitious target of expanding nuclear power capacity to 100 gigawatts (GW) by 2047. India’s existing sovereign green bond framework, green deposit rules and financing regulations do not currently cover nuclear investments. Therefore, the country needs to reassess these frameworks to enable greater access to capital for nuclear power projects.
Abhay Karandikar, a member of government think tank NITI Aayog, highlighted the need to align India’s financing policies with its long-term nuclear energy ambitions. The government has also begun opening the traditionally tightly controlled nuclear sector to private companies, with the aim of attracting foreign technology, expertise and investment.
$210 Billion Investment Needed
India currently has around 8.8 GW of nuclear power capacity. However, achieving the 100 GW target by 2047 will require significant investment. The country estimates that the nuclear sector could need nearly $210 billion in investment to expand capacity. Consequently, improving access to green and sustainable financing will play an important role in supporting the planned expansion.
Global financial institutions are also assessing ways to facilitate nuclear investments. Karandikar said institutions including the World Bank have started reviewing their approach to financing nuclear projects. He made the comments at the PowerGen India event in New Delhi, where industry leaders discussed the financing and workforce requirements for India’s energy transition.
Skilled Workforce Becomes a Critical Challenge
Alongside financing, India faces another major challenge: developing a specialised workforce capable of supporting a rapidly expanding nuclear industry. Industry executives have pointed to a shortage of specialised education and training programmes. This challenge is particularly significant because India’s broader clean-energy sector is already experiencing a talent shortage.
Kalirajan S, Managing Director of EDF Nuclear Projects India Pvt, said India needs to expand nuclear education and training opportunities across the academic system. He noted that nuclear-related courses remain limited, apart from a few premier institutions.
EDF Supports Nuclear Skills Development
France-based EDF is already working to strengthen India’s nuclear talent and supply-chain capabilities. The company has been conducting certification programmes with Indian vendors and plans to expand these initiatives. These programmes can help vendors develop the specialised skills and technical capabilities required to participate in the growing nuclear supply chain. Moreover, strengthening local expertise could help India build a more robust domestic ecosystem for nuclear project development.
NITI Aayog Focuses on Nuclear Expertise
To address the workforce challenge, NITI Aayog has formed a committee to examine how India can expand nuclear expertise across different levels of the industry. The initiative will cover a broad talent base, ranging from skilled technicians to professionals involved in research and development. As India moves towards its 100 GW nuclear capacity target, developing this talent pipeline will be essential for supporting project execution, technology development and long-term plant operations.
Finance and Talent Key to India’s Nuclear Ambition
India’s nuclear expansion will require more than new projects and investment. Financing reforms, specialised education, industry training and a stronger domestic supply chain will all be critical to achieving the country’s 100 GW nuclear power target by 2047. As reported by reuters.com, by widening access to sustainable finance while simultaneously building specialised talent, India can create a stronger foundation for the next phase of its nuclear energy programme.
