'N-deal will open major opportunities in India'
The US-India Business Council welcomes the Senate approval of the US-India nuclear deal.india Updated: Nov 17, 2006 09:37 IST
The US-India Business Council has welcomed the Senate approval of the US-India nuclear deal, calling it a "win" that will lay the foundation for major trade and investment opportunities in India for US companies.
In a statement praising the Senate's passage of the enabling legislation, Council president Ron Somers on Friday urged the House and Senate to quickly resolve the differences in their respective bills without allowing any "poison pill" provisions that would derail this extraordinarily important initiative.
In every regard, this bill presents a "win" - a win for the US-India commercial and strategic partnerships, the environment, safety, and nuclear non-proliferation, he said.
It lays the foundation for major trade and investment opportunities in India for US companies. As many as 27,000 high quality jobs each year for the next ten years will be created in the US nuclear industry alone as a result of this agreement.
Sharing civilian nuclear technology will provide India's fast-growing economy with an environmentally sound energy resource to continue lifting millions of Indians out of poverty, Somers said.
Moreover, the safety of India's nuclear facilities will be enhanced as this agreement enables the sharing of technology as well as international best practices, he said.
The United States-India Business Council (USIBC) is the premier advocacy organisation representing the largest US companies investing in India, promoting economic reforms with an aim to deepen trade relations and broaden commercial ties with India.