N-deal...Massive investment expected in power sector

Venugopal N. Dhoot, immediate past president of ASSOCHAM and Chairman and MD of the Videocon Group on Monday announced that with the country's nuclear civil agreement with the US approved by the NSG, a minimum of Rs2 trillion investment is expected to go towards nuclear power generation. Forty domestic companies have already started negotiations with their foreign counterparts for nuclear power generation, Dhoot said.

Releasing the ASSOCHAM study on 'Indian Manufacturing: Aiming to Achieve 15% Sustainable Growth’ with ASSOCHAM Secretary General, D.S. Rawat, Dhoot said that among the leading corporates that are negotiating nuclear power joint venture include Videocon, JSW, Tatas and others.

With nuclear civil power agreement becoming a reality said that Dhoot, the power generation would be to an extent of 40,000 megawatt (MW) in the next 15 years and the cost of power will be much cheaper. The ASSOCHAM would shortly submit a detailed blue-print to the Prime Minister.

The ASSOCHAM study has brought out a 20-point approach paper for achieving 15% manufacturing growth with focused attention to improve logistics, port operations, trade policy approach, relaxation in borrowing costs and tax exemptions for India Inc.

The other point include reforms in infrastructure sector, diversification in existing export structure, emphasis on R&D, partnership between policy makers and captains of Indian industry, liberalise reforms in labour and engineering sector and special concession for agriculture products as well as processing of perishable products including reliable power supply.