Deal is $100-bn opportunity: US lobby

Washington: The US business community has hailed Congressional approval of the India-US civil nuclear deal, saying it could provide them with $100 billion worth of new opportunities in India in the energy sector alone.

The agreement would also open India's markets to investment in technology, telecom, and financial services, according to the US Chamber of Commerce, which is described as the world's largest business federation representing more than 3 million businesses and organisations of every size, sector, and region.

"The civilian nuclear agreement is a win-win-win for America and India," said Lt Gen (Retd) Daniel W Christman, US Chamber senior vice president for International Affairs and chairman of the Coalition for Partnership with India.

It is "a win for strengthening non-proliferation efforts; a win for the environment because nuclear power does not create greenhouse gas emissions; and a win for US businesses who will have greater access to investment in one of the world's fastest growing economies," he said.

The legislation is the culmination of a landmark meeting between US President George W Bush and Prime Minister Manmohan Singh in July 2005.

The agreement would allow the US to share civilian nuclear technology with India. In return, India would agree to separate its civilian and strategic nuclear facilities and put its civilian facilities under international inspection.

"While we've made tremendous progress, the civilian nuclear agreement must earn the blessing of the Nuclear Suppliers Group-an organization that sets guidelines for nuclear exports-and face another congressional vote on its technical implementation before it becomes a reality," said Christman.

"We're not taking our foot off the pedal until this is a done deal," he added noting that the accord would help cement a historic strategic alliance between two of the world's greatest democracies.

In conjunction with the Coalition for Partnership with India, the US Chamber and its affiliate, the US-India Business Council, have spearheaded an 18-month lobbying, grassroots, and education campaign to build support for the agreement.

The Coalition for Partnership with India is comprised of American businesses, security experts, associations, think-tanks, and like-minded individuals supporting a deeper strategic partnership with India.