Power sector will be biggest beneficiary of n-deal: Kamath


Bangalore : India’s power sector would be the biggest beneficiary of the Indo-US civilian nuclear deal, as it “opens up the possibility of using civilian nuclear energy by the industry”, Confederation of Indian Industry (CII) president K.V. Kamath said here Monday.

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“Going by its phraseology, it is for civilian nuclear use. The biggest benefit will be the power sector, which is facing a major challenge to meet the growing energy requirements of a burgeoning economy,” Kamath told IANS on the sidelines of a CII event.

While power sector will be the primary beneficiary of the proposed deal, the Indian industry will also stand to benefit by having better supply.

“The deal opens up the possibility of using the civilian nuclear energy by the industry. The key challenge for the industry is continuous and quality supply of power. If we can get it through nuclear energy, it will be good for us,” Kamath, who is also the CEO and managing director of ICICI Bank, pointed out.

Exuding confidence on the economy growing at 8-10 percent during the 11th plan period (2007-12), Kamath said the growth agenda was clearly driven by the industry.

“Of course, the government plays a very important role as a facilitator. I see that role has not changed direction since the early nineties in the post-reform period. Successive governments have treaded on the same path and the policy environment has been maintained for promoting growth,” Kamath added.