US looking up for private investment in nuclear sector

Washington, Oct 3 (PTI) Hailing the Congress approval to the Indo-U.S. nuclear agreement as a "major victory" for the Bush Administration, the White House has said it is looking up to the private sector in both the countries to take lead in implementing the landmark pact.

"The approval of the 123 Agreement by Congress last
night is a major victory for everyone involved and a
significant achievement," Deputy White House Spokesman Tony
Fratto said.

"The agreement embodies the trust and closeness that our
two countries have developed over the past decade. Once the
formalities of signing the legislation and signing the 123
Agreement are completed, the United States and India will be
able to engage in full civil nuclear cooperation as trade
envisioned in July 2005, when the agreement was announced," he
said.

Highlighting the investment opportunities in India's
civil nuclear sector, Fratto said United States encouraged
private sector in both the countries to take advantage of the
opportunities.

"We now look to the U.S. and Indian private sectors to
take the lead in implementing the agreement and beginning
cooperation. The opportunities now available for U.S.
investment in India's civil nuclear sector are enormous, and
we encourage our private sector to take advantage of every
opportunity," Fratto said.

Terming the nuclear agreement as a new beginning in
the Indo-U.S. bilateral relations, he expressed confidence
that both the country will abide by the commitments made in
the 123 agreement.

"The achievement of bilateral civil nuclear
cooperation is not a culmination but a beginning in U.S. -- a
new beginning in U.S.-India relations," he said.

"As we move forward, the United States will continue
to abide by the commitments it has made to India throughout
this process. We have every reason to believe that India will
also abide by its commitments, there by providing a solid
framework for cooperation," he added.
The senior White House official said that the Bush
administration was very excited about the agreement and hoped
for stronger ties with India along with civil nuclear
cooperation.

"We must now build on this framework that we have
achieved to continue the transformation of our relationship in
all aspects. The civil nuclear initiative is one part of a
broad, multifaceted partnership that includes cooperation in
agriculture, education, trade, investment, defense, and
democracy," Fratto said.

"Having completed the civil nuclear initiative, we now
look forward to working with India even more closely than
before to continue the evolution of our strategic partnership"
he added.

He said that Secretary Rice was scheduled to travel
India this weekend to commemorate the strengthen relations
between the two countries during the Bush regime.

"We want to have and maintain strong relations with
India. It's the world's largest democracy, and we hope that
that relationship can grow," he said.