Nuke deal to generate 60,000 MW: Kamal Nath
The Commerce Minister also said that the two sides seeked to double bilateral trade to $40 billion in three years.india Updated: Mar 02, 2006 21:15 IST
Commerce Minister Kamal Nath has said that the nuclear deal struck with the US will result in a massive addition to India's electricity generation capacity, facilitating foreign investment and creating jobs.
"The deal would eventually translate into generation of 60,000 megawatts of power, which would put India on to a different platform altogether," Kamal Nath said on the sidelines of a meeting with the US-India Business Council.
"The nuclear agreement will also pave way for further economic growth and industrialisation that would help in employment generation, which is our prime focus," he added.
The minister, who had on Wednesday hosted a dinner for top US chief executives and officials, followed by a meeting with a business delegation on Thursday, said that American companies were keen to invest in India with renewed interest.
The delegation, led by US-India Business Council president Ron Somers, had an hour-long discussion with Kamal Nath.
Other members at the meeting included top representatives of WalMart and Dow Chemicals.
"US companies are interested to invest in pharmaceutical, infrastructure, chemicals and a whole lot of other sectors," he said. "They are looking for the right kind of atmosphere and response."
Kamal Nath also said that US President George Bush's visit had a lot in store for the Indian economy.
"We are working on a whole lot of things," he added, noting that foreign investors wanted states to facilitate investment.
The minister also held discussions with US Trade Representative Rob Portman, during which the two sides stressed on doubling the bilateral trade volume to $40 billion in three years.