Best of BS Opinion: Energy bets, AI rules and growing market risks

Here are the best of Business Standard's opinion pieces for today

The Cabinet’s clearance of the Atomic Energy Bill is a decisive shift in India’s nuclear strategy. The proposed SHANTI Bill opens plant operations to private players, allows up to 49 per cent private and foreign investment, and eases liability norms that have long deterred investment. With nuclear power positioned as a steady low-carbon alternative to coal, the move reflects the government’s recognition of the limits of renewables alone in meeting long-term energy demand, highlights our first editorial. Small modular reactors sit at the centre of this push, but financing, safety oversight and public trust now become the hard tests that will determine whether ambition translates into capacity on the ground. 

Our second editorial examines a contentious proposal from the Department for Promotion of Industry and Internal Trade on generative AI and copyright. The working paper backs compulsory royalties after commercialisation, collected and distributed by government-appointed bodies, while rejecting opt-outs for creators and mandatory disclosure of training datasets. As critics from both tech firms and content creators warn, India risks becoming a global outlier with a framework that satisfies neither side. 

Writing on the macro outlook, Sonal Varma argues that India could enter a Goldilocks 2026 despite a turbulent 2025. Growth surprised on the upside, inflation stayed below target, and prudent macro management helped absorb shocks from tariffs, capital outflows and currency pressure. With reforms, easing financial conditions and disinflation in place, GDP growth near 7 per cent and inflation around 3.6 per cent look achievable. However, the Reserve Bank of India is expected to remain cautious, delivering only limited further rate cuts. 

And in his column, Debashis Basu cautions that headline indices are hiding uncomfortable truths. Retail portfolios loaded with small and mid-caps have lagged even as the Nifty and Sensex hit records. He also questions the link between GDP growth and earnings, stressing that valuations, not narratives, drive returns. With high valuations and weak profits, he argues that assumptions need resetting. History offers sobering examples for investors today especially. 

Finally, Aditi Phadnis reviews Anand Teltumbde’s latest book, The Caste Con Census, which engages with a sharp critique of the caste census. Drawing on Ambedkar and colonial history, Teltumbde argues that counting caste hardens identities rather than dismantling hierarchy. He is sceptical that data can deliver justice and warns of renewed conflict. 

Stay tuned!