India represents huge investment avenues for US firms: Prabhu

Says nuclear energy, renewable energy and clean technology are areas that hold potential for joint exploration by the two nations

With US President Barack Obama in India for a historic visit, Railways Minister Suresh Prabhu has said the two nations have much in common and India can help the US create new investment opportunities for its companies.

“India and the US share many things. We have the same values. The US is the world's largest economy and India could be the third-largest economy soon,” he said during his speech at Indo-US Dialogue, organised by the Observer Research Foundation here on Sunday.

Talking about the nuclear deal between the two nations, he said "possible nuclear deal success is only a starting point for India-US cooperation during the US President’s Republic Day visit".

He added that nuclear energy, renewable energy and clean technology are areas that hold potential for joint exploration by the two nations. “India has always said it is committed to peaceful uses of atomic energy and nuclear energy technologies. The two nations can work together to get this done,” he said on the sidelines of the event.

According to reports, India and the US have achieved a breakthrough in operationalisation of the stalled nuclear deal following the talks between Prime Minister Narendra Modi and US President Barack Obama here on Sunday. Both the leaders held discussions on enhancing cooperation in defence, trade and commerce and climate change.