By Arun Kumar, IANS
Washington : The US-India Business Council (USIBC) says the India-US nuclear deal will create jobs and opportunities in India and across the US with the Indian nuclear industry planning a $150 billion expansion.
"Government officials on both sides who are working on this historic initiative deserve our deepest gratitude and respect for their vision and statesmanship," said USIBC president Ron Somers, hailing the progress on implementation of the 123 agreement.
Conclusion of the 123 agreement and approval by the Congress would represent a major stride toward US-India civil nuclear cooperation, which would create jobs and opportunities in India and across the US, said the organisation spearheading US industry's advocacy campaign in favour of the deal.
India's nuclear industry has announced plans to expand its installed nuclear power capacity of 3,500 MW to 60,000 MW over the next 26 years. The expansion is valued at $150 billion.
India's rapidly expanding economy, growing at more than nine percent, is confronting a major energy deficit. India's energy security challenge portends major collaborations with American companies, USIBC said.
The USIBC, representing 250 major US companies seeking to do more business with India, is a division of the three million-member US Chamber of Commerce, said to be the world's largest business association.
It formed the Coalition for Partnership with India shortly after Indian Prime Minister Manmohan Singh visited Washington in July 2005. The coalition serves as host for like-minded parties – think-tanks, policy experts, industry and the Indian American community in support of US-India cooperation.