Industry bodies see 1.2 trln investment in nuclear power

India's Prime Minister Manmohan Singh gestures to photographers upon his arrival at the Indian parliament in New Delhi in this July 22, 2008 file photo.

NEW DELHI (Reuters) - India's industry bodies expect 18-20 new nuclear power plants to be set up in next 15 years costing 1.2 trillion rupees after a ban on nuclear trade with India was lifted by the Nuclear Supplier's Group.

On Saturday, forty-five nations approved a United States proposal to lift a global ban on nuclear trade with India in a breakthrough towards sealing a controversial U.S.-Indian atomic energy deal.

"The NSG clearance has now instilled confidence of business opportunities worth 1.20 trillion rupees in the next 15 years, which would add about 18-20 nuclear reactors at the cost of 5,000 to 6,000 crores (50-60 billion) each," the Confederation of Indian Industry said in a statement late on Saturday.

"The nuclear deal will also enable addition of new capacity and help fulfill the target of adding 63,000 MW by 2030," it said.

The Federation of Indian Chambers of Commerce and Industry said the lifting of the ban would enable India to get nuclear fuel for all its nuclear reactors, which have been running at almost half the capacity.

"It will open the doors for foreign investments in the nuclear power generation and usher India into the world's top Nuclear Club," it said.