Business Desk
Welcoming the NSG clearance, CII expressed confidence that the clearance will open up tremendous business opportunities for India besides meeting its energy needs to fuel its high rates of growth.
"Today's development is a major confidence-building move for the international community to engage with India especially in high technology trade and will provide opportunity for Indian manufacturers to supply spares and components to the global manufacturers of nuclear power plants besides providing business opportunities for Indian power plant construction companies, said Mr Chandrajit Banerjee, Director General, CII".
The NSG clearance has now instilled confidence of business opportunities worth Rs. 1,20,000 Crores in the next 15 years which would add about 18-20 nuclear reactors at the cost of 5,000 to 6,000 crores each The nuclear deal will also enable addition of new capacity and help fulfill the target of adding 63,000 MW by 2030.
The NSG clearance opens up avenues to secure a better and clean energy future and ends over 34 years of technology denial and fuel access restrictions for India. Today's clearance will also help India secure Uranium supplies for its existing capacities along with accessing reprocessing technology in order to reprocess the spent fuel and reduce the amount of radioactive waste.
CII said that India now looks forward to the US Congress approval of the deal.
