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Japan looking at lucrative nuke business in India

delhi Updated: Aug 10, 2008 10:03 IST
Japan looking at lucrative nuke business in India

Even though it says it is yet to firm up its position with regard to NSG waiver for India, Japan is eyeing the business potential in the lucrative nuclear energy sector in this country if exemptions are granted to New Delhi.

A top official of Japan's Foreign Ministry said Japanese industries have "cutting edge technologies" in the nuclear power sector and would be interested in the Indian market if the Indo-US nuclear deal goes through.

"The Japanese industries do have cutting edge advanced nuclear power generation technology. Certainly we think our companies are as competitive as any other companies abroad to do business in India," Press Secretary of Japan's Foreign Ministry Kazuo Kodama told PTI here.

The comment assumes significance as Japan, a member of NSG, maintains officially that it is yet to firm up its position with regard to the waiver issue although it understands the energy needs of India.

The official said there will be "huge opportunities" in the sector in India but refused to discuss the extent, saying "it is too early to comment elaborately on the issue."

"I do not deny that there will be huge business opportunities," said Kodama, Director General of Press and Public Relations in Foreign Affairs Ministry who was here last week.

Asked what will be Japan's stand during the crucial August 21-22 meeting, he evaded a direct reply but indicated that Japan will not pose any hurdle at the NSG.

Japan "understands India's need for nuclear energy... The issue requires "sensible approach by all parties," Kodama said.

"Japan intends to actively participate in the discussion on the nuclear deal at meeting with a comprehensive viewpoint that will strengthen non-proliferation regime," he said.

"When we joined consensus at the IAEA, we appreciated India's need for nuclear energy. We understand India's compulsion to develop nuclear energy," he said.

India, in association with the US, is making efforts to garner support of NSG countries.