Kolkata, Feb 3 (IANS) The civil nuclear deal with the US was strategic to India’s economic growth in the coming years, External Affairs Minister Pranab Mukherjee said Sunday.
“When computers were introduced, we faced opposition. Now the nuke deal is also facing opposition. But we must remember that we are a part of this planet, we cannot live in isolation,” Mukherjee said while addressing the 176th annual general meeting of the Calcutta Chamber of Commerce here.
Talking about the present status of the deal, he said, “We are in the process of discussion with the International Atomic Energy Agency (IAEA) regarding an India-specific safeguard arrangement.
“We will also talk with the Nuclear Suppliers Group (NSG) regarding amendment of laws to facilitate global nuclear commerce with India keeping the country’s benefit in mind,” he said. “This would help us open up to countries like France and Russia also.”
“Once the draft agreement is ready it will be brought back to the United Progressive Alliance (UPA)-Left Coalition committee for its approval and suggestion. Thereafter we will sign it,” he said.
“We have an unprecedented challenge in the form of ensuring our energy security. India has to depend on import of hydrocarbon and other fossil fuels for meeting its energy needs. Our energy needs will grow in keeping with our projected economic growth,” he said.
“Oil prices averaging at $100 a barrel are a drag on our resources that could have gone for more productive purposes. The only way out is by investing to build future assets in energy,” he said.
“My ministry is aware of these challenges and we are making all attempts by focusing on bilateral and multilateral engagements for cooperation with source countries,” he said.
He said the agreements on civil nuclear cooperation with various countries will help in increasing the share of civil nuclear power in India’s energy mix.
“As we focus on economic growth, Indian business and industry will also have to respond to the growing concerns about climate change and environmental protection,” Mukherjee said.
India’s per-capita emission of greenhouse gases (GHGs) is well below the world average. In aggregate terms, India with 17 percent of the world population accounts for only 4 percent of global GHG emissions.
“Nuclear energy will help us in a big way to go ahead with our planned programme of developed as envisaged in the 11th Five-Year Plan,” he said.