Business both in India and abroad, especially in the United States, have reasons to cheer the decision of the Nuclear Suppliers Group, which has the potential generate billions of dollars in new contracts and orders.
“Today’s development is a major confidence-building move for the international community to engage with India especially in high technology trade,” said Chandrajit Banerjee, director general of the Confederation of Indian Industry.
The NSG clearance ends more than three decades of technology denial and fuel access restrictions for India. It will help the country significantly scale up its plans to generate nuclear power by building new plants that would not face the constraint of inadequate fuel or more efficient technologies.
There are also substantive gains to be made by companies overseas that are associated with nuclear power generation.