The "landmark" nuclear waiver for India by the 45-member NSG has been welcomed by key western nations including Britain, Canada and the US, which looks upon it as an important foreign policy victory for President George W. Bush.

The NSG, which governs the legal world trade in nuclear components and technology, approved the deal after three days of contentious talks and some concessions to countries fearful it could set a dangerous precedent.

Canada welcomed the nuclear cartel's decision to grant India a "special waiver" to allow New Delhi to participate fully in the global nuclear industry and trade, and to strengthen the non-proliferation regime.

Canada's decision to join the NSG consensus marks a turning point in Canadian relations with India and would help to facilitate a more comprehensive and robust bilateral relationship, said David Emerson, Minister of Foreign Affairs in support to NSG's decision to allow nuclear trade with New Delhi.

Canadian Foreign Affairs Minister Emerson said India was a "responsible democracy that shares with Canada the fundamental values of freedom, democracy, human rights and respect for the rule of law".

India's Nuclear Energy Trade Expected to be $100 billion in 10 years

The nuclear energy business in India would be in the order of 100 billion USD (about Rs 4,00,000 crore) in about ten years after nuclear deal comes through, according to estimates by David Bohigian, United States Assistant Commerce Secretary.

The Nuclear Suppliers Group's waiver for India was a positive move that would foster clean energy business in both countries, he said. Bohigian, who is leading the US clean energy trade mission to India to explore the business opportunities.

Though a business plan for the post-deal period was not made yet, he said there were immense opportunities waiting to be tapped. India, he said, would witness nuclear renaissance once the deal came through.

Some companies dealing in clean energy have been making enquiries with the Commerce Department about the possible trade opportunities and the scope of nuclear business, the visiting dignitary said.

Asked why US did not set up new nuclear reactors in the past two decades, he said it was working on the second generation reactors which are more economical and reliable.

It has made substantial commitments to achieve the trust of the Nuclear Suppliers Group, including a safeguards agreement with the International Atomic Energy Agency that would allow the Agency to monitor additional civilian nuclear facilities in India, said Minister Emerson.

NSG rules ban nuclear trading with India because it refused to sign the Non-Proliferation Treaty, developed an independent nuclear programme and conducted its first nuclear test in 1974.

Officials said the landmark breakthrough came after President Bush personally intervened to lobby allies at the nuclear group to approve the trade waiver.