Nuclear deal with U.S. good for India: Study

New Delhi: The India U.S. civilian nuclear deal will reposition the country's corporate sector at a higher scale globally but a continued opposition will jeopardise its strategic interests, says a study by an apex industry group.

"Today, the US is willing to consider such a major initiative because India has emerged as a giant economy, a stable democracy and a responsible nuclear weapons power," says the study released here Tuesday.

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"India must approach the initiative as a larger opening of the global community to its energy needs," adds the study by the Associated Chambers of Commerce and Industry (Assocham) titled "Liberating India from Technology Denial Regime".

It says that the resumption of international cooperation in nuclear energy for India is a challenging task since it seeks an exception to what the world thinks as one of the primary pillars of the current global order.

"Given the inherent opportunities of achieving this objective, only the US is in a position to deliver."

The study also says that continued opposition will also constrict international cooperation for India in areas like satellite launches, precision engineering, high-end sourcing and defence production.

The study says the US draws 21 percent of its electricity from this source, while it is 78 percent for France, 40 percent for Japan, 15 percent for South Korea and around 25 percent for Russia.

"Globally, 16 percent of energy requirements are met from nuclear power, which may be contrasted with its three percent contribution in India."

Referring to the much-discussed Hyde Act, the study says it was a relevant and enabling legislation passed by the US Congress and assented by the president that allows the country to work out the nuclear cooperation agreement with India.

"Without the Hyde Act, it would not have been possible for the two countries to discuss the 123 Agreement because various sanctions of the US Atomic Energy Act forbade such initiatives vis-à­¶is India."

Soon after the study was released, a panel of experts, corporate leaders and MPs, including Communist Party of India secretary D. Raja examined it.

While most members of the panel were of the view that the agreement will help India achieve its nuclear power capacities and obtain technology faster, Raja opposed the agreement and wanted it to be renegotiated.
Source: IANS