US Chamber of Commerce lobbies on the Hill, says deal will support 250,000 high-tech American jobs

23 September 2008

Washington: The US Chamber of Commerce, a powerful business lobbying group in the United States, has stepped out in support of the India-US civil nuclear deal, saying a modest share of the potential $150 billion business had the potential to support as many as 250,000 high-tech American jobs.

Urging the US Congress to approve the 123 Agreement before its term expired by the end of the year, the Chamber, which describes itself as the "world's largest business federation representing more than three million businesses of every size, sector and region" said the deal offered US companies a "tremendous opportunity".

Over the last few weeks the US administration too has been quoting support of American business to the Indo-US deal before US president George W Bush demits office next January.

Initially there was hope that Congress would ratify the deal before Indian prime minister Manmohan Singh arrived in the United States on a state visit on 25 September. This does not look very likely now with an emerging crisis on Wall Street fully engaging the attention of the Congress.

There is considerable bi-partisan support for the Indo-US nuclear deal on the Hill.

Meanwhile, in a letter to the Congress, chamber chairman, R Bruce Josten said, "With India's 34-year nuclear isolation now history, the opportunity for US companies today is tremendous, with an expected 30,000 to 60,000 MWe of new nuclear generating capacity by 2030, representing a potential $150 billion of new investment."