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India’s SHANTI Act draft rules open nuclear power to private players
Draft rules for private participation are open for feedback until 4 September as companies begin preliminary site studies for new nuclear projects.
India’s SHANTI Act, 2025, which modernizes the country’s nuclear sector and came into force on 20 December 2025, is moving into its next phase as draft SHANTI Rules, 2026, are put out for consultation to guide private participation in civil nuclear power generation.
LiveMint Markets reports that the draft rules would shift India’s nuclear policy by opening the sector to private players, including a single composite licence for building, owning and operating nuclear facilities, access to approved domestic and international technologies, and expanded nuclear applications beyond power generation while keeping safety and liability requirements.
Even while the rules are still being finalized, power companies have started looking for projects, with NTPC Ltd identifying more than 30 locations across multiple states and beginning preliminary studies at 10 of them. Adani Power is evaluating sites in Madhya Pradesh, and Tata Power has shortlisted locations in Madhya Pradesh, Odisha and Gujarat.
The story highlights an investment timing question: whether the SHANTI Act framework creates an actionable opportunity for listed stocks now or whether commercialization of nuclear projects could take years, given the lag between rulemaking, site work, and earnings.
LiveMint Markets cites Elara Capital’s Rupesh Sankhe saying the framework is a watershed moment, pointing to the single licence and technology access changes that broaden how nuclear facilities can be developed and used.