In U.S., India PM touts nuclear deal, infrastructure

[TomCADem]

Source: Reuters

WASHINGTON (Reuters) - Indian Prime Minister Manmohan Singh said on Monday completing a 2005 U.S.-India nuclear cooperation deal would boost investment opportunities in his country, a hopeful sign for U.S. companies eyeing India's potential $150 billion market in power plants.

Singh, speaking to U.S. business leaders on the eve of talks with U.S. President Barack Obama, said India's ambitious infrastructure build-up would propel growth amid a global slowdown and be open to foreign investors.

"We are currently finalizing the details that will make the agreement fully operational," he said of the civilian nuclear deal. "This will open a large area of commercial opportunity."

Singh and former U.S. President George W. Bush signed the deal in 2005, but India's parliament has to debate a new law to limit U.S. firms' liability in case of a nuclear accident. The United States has still not signed a nuclear fuel reprocessing agreement with India.

Read more: http://www.reuters.com/article/politicsNews/idUSTRE5AM44720091123

[InfiniteThoughts]

1. yeah ... it's only a $100 bn opportunity ... nothin here ...

India is likely to spend $100 bn on nuclear power and another $200 bn in other power sources - renewable or otherwise and better transmission. If US is serious, it would do well to hunker down a deal with the Indian GoI else the business will go to France, Russia after US took the steps of getting India to the larger nuclear forum.