MUMBAI: Zee Telefilms chairman Subhash Chandra has said that, the passing of the US-India civil nuclear deal is pivotal to sustain India's burgeoning economy and its special energy needs.
Addressing lawmakers from both houses of the US Congress at a reception held on the Capitol Hill, Chandra made a "compelling" case as to why the nuclear deal was important in the larger economic interests of both the countries and to furthering bilateral relations.
The reception, hosted by New York hotelier Sant Singh Chatwal, was held on 17 May. The guest list included Hillary Clinton and Atlanta hotelier Mike Patel.
According to an official release from Zee, Chandra pointed out that if India continues to consume traditional energy resources at current pace, it could soon adversely impact international oil and energy prices and cripple the economies of many developing countries. Such a scenario could hit the US economy as well global economic growth and result in the US having to spend an additional $500 billion annually in sustaining higher energy costs. The US-India civil nuclear deal, he said, would also spawn many business opportunities in India for several US energy companies.
While the presence of large numbers of senators and representatives reaffirmed wide bi-partisan support for the civil nuclear deal in both houses of the Congress, the lobbying efforts are far from over. Some lawmakers said they were watching the developments closely and hoped whatever reservations they had about the deal would be dealt with positively during such interactions with business leaders from both countries and their colleagues on the Capitol, adds the release.
The lawmakers made their points in support of the deal and largely acknowledged that the civil nuclear deal will help both India and the US prosper, sustaining the global economy its growth. They called on their colleagues, many of whom have traveled to India on several occasions before and after President Bush's historic India visit, to support the nuclear cooperation agreement.
Among the notable senators at the reception were: John Kerry, Joe Biden, Charles Schumer, Hillary Clinton, John Cornyn and Lamar Alexander. The House of Representatives was represented, among others, by Joseph Crowley, Joe Wilson, Roy Blunt Nancy Pelosi, Steny Hoyer and many more.
