India must review green finance frameworks to unlock nuclear investment: Abhay Karandikar

NITI Aayog Member Abhay Karandikar on Wednesday emphasised on Indian policy makers to review the country’s green financing norms, on the lines of the World Bank and Asian Development Bank (ADB), to open up avenues for investment in nuclear energy.

Speaking at the Bharat Electricity 2026 event, the former Secretary of the Department of Science and Technology, he also stressed on developing a robust nuclear workforce to achieve its ambitious target of 100 GW of nuclear power capacity by 2047.

India’s sovereign green bond, RBI green deposit and SEBI green debt securities frameworks currently exclude nuclear energy, said the former IIT Kanpur Director, calling for their review in a bid to enable nuclear energy’s access to green financing, echoing global shifts by institutions such as the World Bank and ADB.

He also highlighted the urgent need for specialised nuclear education and skills, adding that NITI Aayog has set up a committee to chart a roadmap for capacity building across all levels, as strong talent is essential for sustainable sectoral growth.

Ghanshyam Prasad, Chairperson of the Central Electricity Authority, noted that India’s energy transition demands a careful balance of resources, long-term planning, and robust policy action.

“Last year, we commissioned a record 64 GW of new capacity, and we’re targeting 70 GW this year to keep pace with the rising demand from emerging sectors like data centres and green hydrogen. For nuclear, accelerating site identification, streamlining regulatory approvals to under 10 years, and building skilled manpower are crucial to achieving our 100 GW vision,” he added.

India currently operates 25 nuclear reactors with a combined capacity of about 8.8 GW spread across seven sites. With projects underway and new reactors planned, capacity is projected to reach nearly 22 GW by 2032.

However, the path to 100 GW by 2047 will demand a broad spectrum of advanced technologies, robust supply chains, and innovative financing and deployment models.

Ambassador (Retd.) Rakesh Sood said that India’s nuclear journey now stands at a crossroads of ambition and opportunity.

“As we aim for 100 GW by 2047 and net zero by 2070, our policy choices must balance strategic autonomy, resource security, and public engagement, while fostering innovation, robust regulation, and private investment. The path ahead demands both technological leadership and broad-based public acceptance to truly power a developed, climate-resilient Bharat,” added Sood, who is now a Distinguished Fellow at Council for Strategic and Defense Research.