India-US nuke deal will speed up growth: PM

August 15th, 2008 - 10:23 am ICT by IANS  

A file-photo of Manmohan Singh

New Delhi, Aug 15 (IANS) The India-US nuclear deal will open “new pathways to accelerate industrialization of our country”, Prime Minister Manmohan Singh said Friday. The deal would not only end India’s nuclear isolation but also “open up new opportunities for trade in dual-use high technologies and nuclear materials and equipment, opening up new pathways to accelerate industrialization of our country”, he said in a speech from the Red Fort here to mark the country’s Independence Day.

“It will enable us to provide electricity to meet the needs of our farmers, our artisans, our traders and our industry,” he added.

The prime minister paid rich tributes to India’s atomic scientists and technologists, describing them as “world class” and noting that they had developed nuclear energy capacities “despite heavy odds”.

Even so, Manmohan Singh said, there were “handicaps which have adversely affected our atomic energy programme”, for instance, the “inadequate production” of uranium.

This apart, the quality of India’s uranium resources “is not comparable to those of other producers”, to add to which many countries had imposed sanctions on trade with India in nuclear materials, nuclear equipment and nuclear technology.

“As a result, our nuclear energy programme has suffered,” Manmohan Singh added.

The prime minister’s comments follow the victory of his government in a parliament trust vote in July after the Left withdrew its backing to the ruling coalition on the issue of the India-US nuclear deal.

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |