Is Power the New Defense?—Nilesh Shah’s Bold Prediction on India’s Next Big Stock Boom

Veteran market expert Nilesh Shah, in an exclusive interview with Republic Media Network, made a bold comparison, calling India’s power sector the new defence, and hinted at a major shift in investment focus from energy production to the power transmission and distribution ecosystem.

“As the world becomes increasingly data- and tech-driven, demand for power will surge like never before,” Shah said, pointing out that the growth of AI, cloud computing, electric vehicles, and digital infrastructure will place enormous pressure on energy grids. But while the market chases solar, wind, and thermal energy producers, Shah believes the real opportunity lies elsewhere.

“Regardless of how power is generated—be it thermal, solar, wind, hydro, or even futuristic methods like nuclear fusion—you still need robust transmission and distribution (T&D) infrastructure,” he explained. “That’s where the real value will be.”

Referring to breakthroughs in nuclear fusion technology, Shah highlighted experiments where scientists have created a synthetic sun that produces more energy than it consumes. “If these become commercially viable, the entire energy equation will change,” he said. “We may no longer need solar panels or coal plants. But even then, power must reach homes, industries, and data centers—and that needs world-class T&D networks.”

He also stressed the importance of storage solutions and grid infrastructure as crucial investment areas, noting that global supply chains are already stretched for transmission equipment. “Companies making T&D components or offering grid modernization services may see a multi-decade boom.”

The message from Shah is clear: Instead of chasing traditional energy producers, investors should focus on the support ecosystem of the power sector—a segment he believes could mirror the strategic rise of India’s defence sector over the past few years.

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