India’s NPCIL has signed an MoU with Engineers India Ltd to provide engineering services for the Bharat Small Modular Reactor project, aligning with the government’s goal of 100 GW nuclear capacity by 2047 to bolster clean energy and energy security.
India has taken a significant step in strengthening its nuclear energy portfolio as the Nuclear Power Corporation of India (NPCIL) signed an agreement with Engineers India to develop the Bharat Small Modular Reactor (BSMR). This collaboration marks a major milestone in the country’s strategy to accelerate nuclear power’s share in its overall energy mix and achieve energy security.
The government has set an ambitious target of reaching 100 GW of nuclear power capacity by 2047, a dramatic leap from the current 8,180 MW. The partnership will be central to this transformation, with NPCIL providing its nuclear expertise and Engineers India leading on design and engineering of reactor systems and components.
Financial experts note that nuclear energy offers India a stable, low-carbon base load power option, reducing dependence on imported fossil fuels while complementing renewable energy expansion. The Bharat Small Modular Reactor, based on pressurized water reactor technology, will be largely indigenous—enhancing cost-effectiveness and scalability.
As per the roadmap, the demonstration unit of the 200 MW BSMR is expected to be completed within six years of final financial approval, at an estimated investment of ₹5,700 crore (USD equivalent). Once operational, the design will be standardized to support rapid deployment across multiple sites, reducing per-unit costs.
In addition, the Union Budget’s Nuclear Energy Mission, with an allocation of USD 20,000 crore, reinforces India’s commitment to scaling up small modular reactors by 2033. Financial analysts view this as a long-term growth opportunity, not only for the nuclear sector but also for ancillary industries like engineering, manufacturing, and EPC contracting.
Experts also highlight that amendments to nuclear laws will create a more conducive framework for private sector participation and financing, further boosting the viability of such projects.
By developing BSMRs indigenously, India positions itself as a leader in next-generation nuclear technologies, aligning with its broader climate goals of 500 GW non-fossil energy capacity by 2030 and achieving 50% renewable energy contribution in the same timeframe.
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