Daily Update — September 23, 2025
Clean Power Opportunities; AI Regulations; and India’s Economic Growth
Today is Tuesday, September 23, 2025, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Transition & Sustainability
Watch: Business model innovation for US SMR deployment
As US electricity demand is projected to surge 35%-50% by 2040, small modular reactors have a significant opportunity to deliver reliable and clean power. The US has the world’s largest small modular reactor (SMR) development pipeline, with over 5 GW of projects underway, fueled by bipartisan support and government incentives.
Leading companies such as BWXT, Oklo, TerraPower and GE Hitachi are spearheading SMR initiatives, primarily in the Southeast and Midwest, although many projects remain in early planning stages. However, effective risk allocation poses a challenge for these projects, highlighting the need for innovative business models that distribute risks among stakeholders. To foster investor confidence and facilitate SMR commercialization, public-private partnerships, cost-sharing agreements and government incentives are crucial.
Learn more and navigate the present and future of power with S&P Global’s Power & Renewables Consulting.
Artificial Intelligence
Listen: Broadband Battles and AI Agendas: Inside the Latest Media and Tech Regulatory Trends | MediaTalk
S&P Global Market Intelligence tech policy reporter Stefan Modrich joined “MediaTalk” podcast host Mike Reynolds to discuss the evolving regulatory landscape for tech and media companies during President Donald Trump’s second term. In this episode, Modrich and Reynolds explored AI regulation, Broadband Equity Access and Deployment Program funding, and broadcast mergers.
The discussion highlights the increasing complexity of AI legislation across the US, with over 1,300 bills introduced at the state level that address AI's role in election security and sectors such as healthcare. As companies and consumers navigate this regulatory patchwork, concerns about AI-generated content in political campaigns remain a hot topic.
Economy
India’s growth realigns with shifting global trends
Despite shifting global trade policies, India remains the world’s fastest-growing major economy. The country’s GDP is forecast to grow 6.5% in fiscal 2026, as it did in fiscal 2025, reflecting its domestically driven nature, according to Crisil, an S&P Global company. A favorable monsoon season, low crude oil prices and reduced interest rates will support Indian growth. However, downside risks are on the horizon. The direct and indirect impacts of tariffs alongside declining growth in trade destinations will test India’s economic resilience.
The Indian economic growth outlook marks a return to a pre-pandemic trend. The economy in India grew 6.6% annually in the decade preceding calendar year 2020. This was followed by above-average growth of 8.8% between fiscal years 2022 and 2024, according to the National Statistics Office, driven by a low base effect and investment-led stimulus from the government.
In case you missed it
- Bunker demand at Jebel Ali in Dubai, United Arab Emirates, rebounded from the summer slowdown, while demand has steadily grown for Omani ports, according to market sources.
- Local and regional governments' creditworthiness is exposed to multiple risks, including from geopolitical events, global policy uncertainties and trade tensions.
- Dangote's residue fluid catalytic cracker outage has added excess supply to the global fuel oil market, with Singapore blending significant volumes of feedstocks into its very low sulfur fuel oil bunkering pool.
Upcoming events
- Global Sovereign Ratings Webinar | September 24 (Webinar)
- Climate Nexus: Adaption Strategies to Build Resilience | September 24 (Webinar)
- CERAWeek 2026 | March 23–27, 2026 (Houston)