Indian industry on Monday welcomed the new law that allows US to have nuclear trade with India, saying it ends the apartheid against the country and will open new business opportunities in the critical sector.

"It's a big development for India and we welcome it. The law ends the nuclear apartheid against India," CII President R Seshasayee told PTI in New Delhi, shortly after US President George W Bush [Images] signed the law in Washington.

The law was the recognition of India as a stable democracy, he added.

The CII also said by passing the law the US had again expressed its confidence in India and proved that Washington views New Delhi as a strong ally. FICCI president Saroj Poddar also welcomed the move.      

"This will open new business opportunities in the nuclear sector for companies from both countries," Poddar told PTI.