Morgan Stanley makes big prediction, nuclear energy will become India’s ‘game changer’, plan is ready till 2047

Morgan Stanley Report on India Nuclear Energy: Global investment firm Morgan Stanley has recently said in a report that nuclear energy holds a strategic importance in renewable energy in India, which can provide stable, low carbon emission energy without being destabilized by the falling and rising prices of fossil fuels.

Also said that the nuclear energy capacity in India is 8.2 GW and its share in the total installed energy capacity is about 2 percent and in generation is about 3 percent. This is low compared to other countries and the government’s efforts in the nuclear energy sector will encourage expansion.

Government promoting renewable energy

The report said that the government’s target is to achieve 22 GW nuclear energy capacity by the financial year 2032, with the long term target being 100 GW by 2047. The announcement of a dedicated Nuclear Energy Mission, allocating Rs 200 billion to design, develop and install small modular reactors, signals a shift towards more flexible, expandable and potentially private sector-friendly nuclear deployment.

Additionally, parallel legislative efforts, including proposed reforms under the PEACE Framework, aim to modernize the regulatory environment and increase private participation under regulatory oversight.

Canada is supplying uranium to India

Morgan Stanley said in the report, ‘We believe the success of this strategy will depend on execution, particularly in financing, regulatory reform and supply chain development. Global partnerships will continue to be important in shaping capacity expansion.”

Among various countries, Canada will play a key role as it is supplying uranium to India under a new long-term agreement. The US role in India’s nuclear journey is more potential and technology-centric rather than fuel-centric.

Important role of agreement with America

The report notes that the US-India civil nuclear framework remains important, and we believe recent steps related to SMR technology transfer and broader commercial interests suggest that if debt and regulatory reforms are implemented, the US could become more relevant in reactor technology, equipment and project partnerships.

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India is establishing itself as a global clean energy manufacturing hub with the support of PLI and policy incentives. The focus is shifting to quality and global competitiveness, although procurement processes and deficiencies in the supply chain still remain obstacles.