IndiaPost.com - USIBC pledges to have nuke bill fast-tracked in Congress

NEW YORK: The US-India Business Council (USIBC) has pledged to energize its US Chamber-sponsored "Coalition for Partnership with India" (StrategicPartnership.org) in response to India's Parliamentary "Vote of Confidence" in favor of moving the International Atomic Energy Agency (IAEA) to reach a "safeguards agreement" covering India's atomic power plants - a crucial step towards ending the 35-year technology denial regime that has been imposed against India.

The IAEA Board of Governors was to consider approving its safeguards agreement with India on July 25, setting the stage for consideration by the 45-nation Nuclear Suppliers Group (NSG) to waive conditions relative to India, ending India's nuclear isolation, and enabling civilian nuclear trade in technology and fuel by the entire 45-nation body.

"This marks an historic victory for India and for the globe," said Ron Somers, President of the US-India Business Council (USIBC), the Industry group that earlier spearheaded legislation in the United States in 2006 to change the US Atomic Energy Act of 1954, enabling civilian nuclear cooperation with India. "India's responsible record in developing its existing civilian nuclear power program will bring much-needed talent and innovation to the 'nuclear renaissance' underway, necessary to stem global warming," Somers added.

With India's Parliament voting to support Prime Minister Singh in moving forward with the civilian nuclear cooperation initiative that he started in July 18, 2005 during his visit to Washington, the next crucial step towards ending India's nuclear isolation moves to the United Nation's International Atomic Energy Agency (IAEA), which is scheduled to consider approving safeguard protocols for India's existing and future civilian nuclear power facilities. India presently generates approximately 3500 MW using atomic power.

Some of these facilities are already under IAEA safeguards. Following IAEA approval, the 45-nation Nuclear Suppliers Group (NSG) must reach consensus to exempt India from certain conditions, which will enable the NSG to begin civilian nuclear trade with India. The United States, Great Britain, France, Russia, Japan, China, and most recently Australia - all key members of the NSG - have already echoed their support for ending the embargo against civilian nuclear trade with India. Once the NSG makes its rule-changes enabling civilian nuclear trade with India, the US Congress must ratify the so-called 123 Agreement, negotiated between the US and India in 2007, which will open the way for US companies to participate in civilian nuclear cooperation with India. "Time is tight - in that the US Congressional Calendar is jam-packed between now and the US Presidential election, scheduled in November," Somers said.

"We are encouraged by recent statements made by Senate Foreign Relations Committee Chairman, Senator Joe Biden, who says he will find time to press for ratification of the 123 Agreement so long as India is able to complete its steps," Somers offered. "USIBC and the Coalition for Partnership with India will be front and center in this debate to ensure US Congressional passage," Somers added. India has a total installed capacity of 135,000 Megawatts (MW), mostly comprised of thermal power, which is carbon-emitting, causing global warming.

India's Nuclear Power Corporation (NPC) has a goal of augmenting this capacity by as much as 30,000 MW to 60,000 MW over the next 20 years - requiring investments in excess of $100 billion. "US companies look forward to cooperating with Indian companies to achieve this important energy security infrastructure build-out," Somers said. Of the world's existing nuclear power reactors, which number 400, India's reactors total 22, while US reactors exceed 100 in number -- which is more than any other country.