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House of Representatives Clears Civil Nuclear Accord

Today's endorsement of the civil nuclear accord by the House of Representatives is the 'next to final hurdle' that needs to be crossed before U.S. companies can participate inIndia's civil nuclear build-out. USIBC urges immediate Senate passage so U.S. companies can participate inIndia's civil nuclear opportunity.

"This is yet another milestone in the U.S.-India strategic partnership," said Ron Somers, president of USIBC, which has spearheaded the advocacy effort in support of U.S.-India nuclear cooperation. "But Senate passage is required before U.S. companies can participate in civil nuclear trade withIndia. Given the strong bipartisan Congressional support for this initiative and the endorsement of both U.S. presidential candidates, there is no reason for any further delay on a Senate vote."

Earlier this month, on September 6th, the 45 member nations of the Nuclear Suppliers Group (NSG), the international organization governing global nonproliferation concerns, reached consensus on openingIndia to civil nuclear trade with the world for the first time in 34 years. NSG approval is an international acknowledgement ofIndia's responsible development and oversight of its domestic civil nuclear program, which has operated without accident for more than three decades, and with zero proliferation beyond its borders.

"Until the Senate acts," Somers noted, "U.S. companies will be disallowed from competing forIndia's $175 billion opportunity in nuclear power."

"For our economy and the American jobs this opportunity represents, for our partnership withIndia, for nonproliferation, and for the global environment, we hope the U.S. Senate will conclude this deal without delay," the USIBC President concluded.

The U.S.-India Business Council (USIBC), formed in 1975 under the aegis of the U.S. Chamber of Commerce, is the premier business advocacy organization representing 300 of the largest U.S. companies investing inIndia, whose mandate is to deepen U.S.-India commercial ties.

www.usibc.com

SOURCE U.S.-India Business Council