Supporting the Indo-US civil nuclear deal, America's top business group has asked the lawmakers to approve it before the close of the Congress session on September 26.
"The US Chamber of Commerce, the world's largest business federation representing more than three million businesses of every size, sector and region, strongly supports the US-India 123 Agreement and urges Congress to approve it before the close of the 110th Congress," Bruce Josten, Executive Vice President of the US Chamber of Commerce in-charge of Govermental Affairs said in a letter to the lawmakers.
Emphasising that the Initiative will bring India into the international nuclear non-proliferation mainstream, he said "it will also help to revitalise the US nuclear industry and create thousands of high-tech American jobs."
He said that the Congress had affirmed India's worthiness as a partner in civil nuclear trade in December 2006 when it passed the 'Henry J Hyde United States India Peaceful Atomic Energy Cooperation Act' by overwhelming bipartisan margins.
"Since then, issues relating to non-proliferation have been carefully considered and unanimously resolved by the 35 governors of the IAEA and the 45-member nations of the Nuclear Suppliers Group," Josten said.
Terming it an opportunity for US companies to get a share nuclear trade with India, he said "by 2030, an expected 30,000 to 60,000 MW of new nuclear power generating capacity will be established, with a potential new investment of USD 150 billion. If US companies are allowed to compete, a modest share of that business could support 250,000 high-tech jobs."
Moreover, the nuclear business would be a fraction of the broader commercial gain across all sectors after this foundation, established of mutual trust and respect, is laid, Josten said.
Asking the Congress to act, the Chamber official said "French and Russian firms were already working in India, but US firms cannot engage until Congressional approval of the 123 Agreement."
Making an appeal to the lawmakers, he said: "The Chamber strongly urges the House and Senate to approve this historic initiative before the close of the 110th Congress, as it is a historic opportunity to strengthen the growing partnership between the world's oldest and largest democracies and support thousands of US jobs in the process."
Meanwhile, United States India Business Council (USIBC) has said that the US-India Civil Nuclear Agreement unites the world's two largest free market democracies, laying the foundation for a deeper partnership between India and the United States.
"The agreement builds on our shared values, pluralistic democracy, a free press, and a common legal system. In 2006, the Hyde Act passed by overwhelming bipartisan support in both the House and Senate. Now, we must ratify the 123 Agreement in Congress to make this partnership a reality," USIBC said in an advertisment in Roll Call, a newspaper devoted to the issues of Capitol Hill.
"Schedule the vote in this Congress. Allow Americans to benefit from a deeper partnership with India," the USIBC said.
