What does the Indo-US nuclear deal spell for L&T?
If we take 2015 as the key result deadline, nuclear sector has opportunities for L&T. The sector, along with aerospace and defence verticals, will be worth $1 billion to us by that time. But it has to be cleared first—our plans for the sector hinge on that. In our 2010 plan, it will hardly have any impact. After clearance, it will be another 6-12 months before any clear shape emerges and we can figure out what it means for the industry. At a broader level, the deal (if it gets through) means our capability to make nuclear reactors and steam generators and export them around the world gets legitimised; the minimum materials we wanted from around the world, we will be able to bring in and restrictions on imports of nuclear fuel will be lifted. It implies that the nuclear programme that was to stop at 10,000MWe will now go to 40,000MWe as per the prime minister’s announcement. Also, L&T is the only company in the country with capability to execute the nuclear projects. Today, none of the
