Indo-US N-deal will contribute in growth of Indian economy: Pranab

External Affairs Minister Pranab Mukherjee today said that the Indo-US civilian nuclear cooperation agreement would help to achieve Indias energy targets and contribute to growth in vital sectors of the economy, including industry and agriculture.

New Delhi, Dec 6 : External Affairs Minister Pranab Mukherjee today said that the Indo-US civilian nuclear cooperation agreement would help to achieve India's energy targets and contribute to growth in vital sectors of the economy, including industry and agriculture.

Regarding the position of financial gains that the country would have from the bilateral agreement, Mukherjee said it is critical that India's current GDP growth rate of 8-10 per cent per annum is maintained in order to achieve the objective of eradication of poverty.

"For this, it is necessary to explore and exploit all sources of energy," he said in a written reply to a question in Rajya Sabha.

He further said that the agreement on the cooperation in civil uses of nuclear energy could result in substantial additional power generating capacity.

"The Integrated Energy Policy, 2006 sets a target for the year 2020 of 20,000 MW of nuclear power generation. This could double with international cooperation," Mukherjee said.

After too much of hue and cry, the Left parties gave the green signal to the government to approach the International Atomic Energy Agency (IAEA) for holding talks on an India-specific safeguards agreement.

Following this, Atomic Energy Commission Chairman Anil Kakodkar, on November 21, initiated the process of talks with IAEA Director-General Mohammad ElBaradei on India-specific safeguards agreement related to the deal.

However, the Left asked the government not to initiate any accord, but bring back the draft of the safeguards agreement to the UPA-Left Committee.

The nuke deal faces an informal US deadline related to securing approval of America's Congress well before the next year presidential polls.

Three steps are required to operationalise the deal that include, safeguard agreement with the IAEA, amendment in the 45-member Nuclear Suppliers Group's charter and the passing of the 123-agreement by the US Congress.

ANI