With the NSG safeguards waiver safely under its belt, it appears the government has already started exploring alternative sources of acquiring nuclear fuel and technology. Speaking at the 15th India-France Joint Committee meeting with the French minister of state for trade today, commerce and industry minister Kamal Nath told reporters that given France’s track record and expertise in nuclear technology, it would be an attractive opportunity for India to explore in terms of fuel supply and technology transfer. “France has had a record in nuclear power and has great technological expertise — it has the maximum number of reactors... and India will be looking at the best opportunities,” he said. Nath added that with the NSG waiver, there are opportunities for nuclear trade with any country within the parameters of the nuclear cartel.

Nath’s French counterpart Anne Marie Idrac, too, hinted at the possibility of a nuclear fuel trade agreement in the near future. Describing the waiver from the Nuclear Suppliers Group to India as a “historic achievement,” she said, “It opens the way for signing of the bilateral agreement, which was concluded during the visit of President Sarkozy in January.”

India’s civil nuclear agreement with the US is awaiting ratification by the US Congress as of now.

As for whether the government would allow private and foreign investment in the nuclear power sector, Nath said that it was too premature to comment on it as of now, but added, “I do not think it should be a problem.”

The meeting of trade representatives from the two countries was convened in view of the growing trade basket between India and France and ways to encourage it. Bilateral trade between the two countries stands at $5.38 billion and is expected to touch euro 12 billion by 2012.