Sunday, September 7, 2008

NSG approves Nuclear waiver for India

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The Nuclear Suppliers Group (NSG) has approved a US plan to engage in nuclear trade with India. The Indo-US nuclear deal needed approval from the NSG as it governs legal trade in nuclear components and technology. With this approval, India has finally come out of the 34-year old nuclear apartheid. Now India is free to buy nuclear reactors and fuel from nations that can supply them. But some assurances made by India have been appended to the document. There has been apparently no mention of testing in the waiver document.

However, the nuclear deal still needs to be ratified by the US Congress before it could take force. The Congress must act before adjourning in late September for US presidential elections.

This is a great win for India as it will help in developing Nuclear industry in India. Just like software industry helped India increase the GDP for the last 10 years, the Nuclear industry will help India increase the GDP for the next 10 years and more. Lot of job opportunities will be created and this will help in reducing some of the power burdens that India is facing.

We expect the market to respond very positively when the markets open on Monday. Trader should buy the stock if the market does not open with huge positive gap. Look at the next blog which talks about the stock tips for september.
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