By NNN-PTI,
Houston : A body for promoting commerce between the US and India has welcomed the latter government’s “bold” decision to move ahead on the landmark civilian nuclear agreement, saying the deal will help reintegrate Indian nuclear power industry with that of the rest of the world.
Terming Prime Minister Manmohan Singh’s victory in the crucial trust vote a reflection of the support the agreement has “within progressive MPs across political parties”, the Indo-American Chamber of Commerce of Greater Houston (IACCGH) said it was also an attractive opportunity for US companies.
“Despite opposition by members of the ruling coalition and risk of early elections, Indian Prime Minister Manmohan Singh made the bold decision to move ahead with this important agreement,” said Atul Varadhachary, president IACCGH.
“This historic vote reflects the broad consensus within India that the proposed agreement is a win-win achievement that will enable India to further tap nuclear power to meet energy needs while limiting greenhouse gas emissions,” he added.
The IAEA Board of Governors’ discussion over safeguards agreement with India will be followed by its consideration by the 45-nation Nuclear Suppliers Group (NSG) and a vote by the United States Congress.
India’s rapidly growing economy is driving an accelerated demand for power, which the Indian Nuclear Power Corporation aspires to meet by augmenting capacity by 30,000 MW to 60,000 MW over the next 20 years. The effort would require investments in excess of USD 100 billion.
“This is an attractive opportunity for US companies, who have the skills and capabilities to help India build a very critical component of its power infrastructure,” said Jagdip Ahluwalia, Executive Director of the IACCGH.