Indo-US business ties would be greatly benefited if "impediments" such as the Nuclear Liability Law and Intellectual Property Rights regime were to be addressed, Vivek Lall, a renowned aerospace and defence expert, said today.
Emphasising that the US-India Defence Technology and Trade Initiative (DTTI) has the potential to transform bilateral relations, Lall, who is a chief executive with General Atomics Electromagnetic -- a US-based company working on nuclear physics, said the sector needs nurturing.
"It goes without saying that US-India bilateral relations will improve if the business relations improve. Towards this, we hope that the often-cited impediments such as India's Nuclear Liability Law and challenges in the IPR regime are addressed," Lal told PTI.
The Civil Liability for Nuclear Damage Act, 2010, is often cited as a hindrance to the nuclear industry by domestic and foreign suppliers.
Lall said US-India DTTI can become the catalyst for enhanced cooperation between the two countries.
"(DTTI) has the potential to transform bilateral ties and needs nurturing. Co-production implies a paradigm shift for both countries and officials on both sides need to work together.
"DTTI represents a commitment from the US side to building an indigenous Indian industrial base by pre-screening projects for co-production. This will lead to industrial integration and interdependence which will strengthen the foundation for an enduring US-India security relationship," Lall added.
