India Inc hails Indo-US deal: Assocham survey

India Inc has given a thumbs up to the nuclear deal with US, and top CEOs feel Prime Minister Manmohan Singh has shown an "extraordinary resolve" to address the country's energy needs, industry body Assocham said today.

According to an Assocham Business Barometer survey, 79% of CEOs felt Singh showed extraordinary resolve to take India to the forefront by ensuring that it meets its fast growing energy requirements from various sources. The study covered 389 corporate heads, a chamber statement said.

"We cannot have a situation where we aspire to become a global economic powerhouse, but get bogged down in political ideologies," Assocham president Venugopal Dhoot said.

About 72% respondents agreed with the scientists that India needed access to international technology. Estimates suggest the 123 Agreement would open up investment opportunities worth $40 billion over the next 15 years in nuclear power generation, with leading US firms willing to forge joint ventures with Indian companies, the chamber said.

"To a question whether the Prime Minister should compromise on the civil nuclear energy deal with the US under political pressure, 68% of the CEOs wanted Singh to show the resolve of a strong leader," the chamber added.

They were confident that those opposing the nuclear deal in the US would also see the mutual benefit that the deal offered.

When it comes to foreign policy, nearly 83% of the respondents said the country should not be seen as divided. The government deserves full support on this key agreement from politicians, academia, intellectuals, scientific community and business houses, the survey said.