Indian industry hails NSG waiver

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New Delhi, Sep 6 (UNI) Indian industry today hailed the NSG waiver for operationalising the Indo-US nuclear deal, saying it will open up ''tremendous business opportunities'' for India, besides meeting its energy needs to fuel its high growth rates.

The NSG clearance has instilled confidence of business opportunities worth Rs 1,20,000 crore in the next 15 years, which would add about 18-20 nuclear reactors of Rs 5,000 to 6,000 crore each, Confederation of Indian Industry Director General Chandrajit Banerjee said.

This development will boost the international community to engage with India, especially in high technology trade and provide opportunity for Indian manufacturers to supply spares and components to the global nuclear power plant manufacturers, he added.

The nuclear deal will also enable addition of new capacity and help fulfill the target of adding 63,000 MW by 2030.

Ending over 34 years of technology denial and fuel access restrictions for India, the NSG waiver will open up avenues to secure a better and clean energy future, Mr Banerjee underlined.

FICCI said the deal will enable India to get nuclear fuel for all its nuclear reactors which had been running at almost half the capacity.

''It will open the doors for foreign investments in the nuclear power generation and usher India into the world's top Nuclear Club,'' it said.

ASSOCHAM described the development as ''a resounding victory'', which will take India out of the decades' old nuclear technology denial regime. Its President Sajjan Jindal said the industry body was already hopeful for securing the NSG waiver, as India had already cleared its first global test from the IAEA board unanimously.

Mr Jindal noted that it will help India ''chase its dreams of putting up series of nuclear power plants,'' he said.

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