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Industry chambers hail Indo-US nuke deal

The "landmark agreement" would pave the way for meeting the subcontinent nation's energy requirements, they said.

india Updated: Mar 02, 2006 19:57 IST
Press Trust of India
Press Trust of India

Industry chambers on Thursday hailed the agreement between India and the US on civilian nuclear cooperationand termed it as a "landmark agreement" that would pave the way for meeting the subcontinent nation's energy requirements.

"The deal will significantly increase the contribution of nuclear power in fuelling India's growth and reduce our dependence on fossil fuels and thereby lower the oil import bill," FICCI President Saroj K Poddar said in a statement.

He said the 'watershed' agreement was in the economic interest of both countries.

CII also welcomed the Indo-US nuclear deal, which it said would address India's energy concern in a pragmatic manner.

"A country like India, which has skewed energy resource need to develop options depending upon the availability of local resources," it said.

Meanwhile, ASSOCHAM termed the deal as an important and significant milestone in the process to accelerate Indo-US business cooperation, but it warned that "all precautions should be essentially observed by India to safeguard its nuclear interest".

"India needs nuclear energy and the understanding between India and US for civil nuclear cooperation will pave the way for meeting India's requirement in order to contribute significantly to the growth of the power sector," ASSOCHAM President Anil K Agarwal said.

First Published: Mar 02, 2006 19:57 IST