The Hindu : Front Page : Business bodies hail waiver

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Sunday, Sep 07, 2008
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Business bodies hail waiver

Sujay Mehdudia

NEW DELHI: Leading business chambers have reacted positively to the Nuclear Suppliers Group (NSG) waiver.

In a statement, the Federation of Indian Chambers of Commerce and Industry said it was confident that the nuclear deal with Washington would be beneficial to India in many ways.

Foremost, it would enable India to get fuel for all its nuclear reactors, which have been running to almost half the capacity. Secondly, it would facilitate induction of latest technology in this sector. Thirdly, the country would witness massive investments in generation of nuclear power. Finally, this would go a long way in resolving India’s massive need for power for its development.

In a statement, the Associated Chambers of Commerce and Industry of India described the waiver as a resounding victory for India.

Assocham president Sajjan Jindal said UPA chairperson Sonia Gandhi, Prime Minister Manmohan Singh and External Affairs Minister Pranab Mukherjee deserved praise.

Chandrajit Banerjee, Director General of the Confederation of Indian Industry, said: “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.”

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