United States-based nuclear technology company Holtec International has expressed interest in setting up a manufacturing facility for Small Modular Reactors (SMRs) and a research and development centre in Gujarat, as the state seeks to build a domestic ecosystem for nuclear power equipment.
The development came during Gujarat Chief Minister Bhupendra Patel’s meeting with Holtec International’s leadership in New York, as part of his five-day US visit ahead of the Vibrant Gujarat Summit 2027. Patel told Holtec that the state government has identified nuclear power equipment, including SMRs, as a thrust area under Gujarat’s newly announced Industrial Policy 2026.
The proposed investment could add a new dimension to Gujarat’s growing manufacturing base in the energy sector, particularly as India looks to expand nuclear capacity and develop newer reactor technologies, the state government said in an official release on Friday. Holtec, which was established in South Jersey in 1986, is primarily known for providing fuel storage solutions for nuclear power plants. The company already has a manufacturing presence in Gujarat, where it has established a precision fabrication facility to meet demand for air-cooled condensers and expanded it in 2025.
Investment details yet to be disclosed
The Gujarat government has not disclosed the proposed investment size, location or timeline for the SMR manufacturing facility or R&D centre. The state statement also did not specify the particular SMR technology or reactor design that Holtec is considering for manufacturing in Gujarat. During the meeting, discussions also focused on how Holtec’s partnership with Gujarat could strengthen the state’s nuclear technology and manufacturing capabilities, the release added.
Patel’s meeting with Holtec was part of a series of one-to-one meetings with global companies during his US visit. The chief minister has been pitching Gujarat as an investment destination ahead of the Vibrant Gujarat Summit 2027, highlighting opportunities across advanced manufacturing, semiconductors, electronics, digital infrastructure, data centres and energy.
BlackRock discussions focus on GIFT City opportunities
The Gujarat CM also held a one-to-one meeting with Samara Cohen, Senior Managing Director and Global Head of Development at BlackRock, where discussions centred on the growing opportunities for exchange-traded funds (ETFs) and asset management in India. Patel highlighted GIFT City and its financial ecosystem, positioning it as a potential global hub for asset management and ETFs, and invited BlackRock to expand its services from Gujarat International Finance Tec-City. The discussions also covered the presence of US-headquartered fintech companies and banks in GIFT City.
Kyndryl explores AI and skilling partnership
In another meeting, Xerxes Cooper, Global Head of Delivery at Kyndryl, expressed interest in working with the Gujarat government on AI strategies, knowledge sharing, skilling and mentorship for startups and students. Patel highlighted Gujarat’s growing presence in semiconductors, electronics, digital infrastructure, AI, data centres and advanced manufacturing, and invited Kyndryl to participate in the Vibrant Gujarat Summit 2027.