Friday, March 24 2006 10:35 Hrs (IST) - World Time -

Washington: Ahead of a crucial meet on Indo-US nuclear deal in the US Congress next week, the Chamber of Commerce has asked the American lawmakers to support the agreement as it would foster strategic ties that will yield significant commercial opportunities for the companies here.

The President of the US Chamber Thomas Donahue has written to both Senators and Congressmen saying that the deal will foster 'deeper strategic ties' besides yielding significant commercial opportunities.

Donahue has urged the lawmakers to support the deal calling it an 'historic opportunity that rarely comes and must not be lost'.

In their letter, Donohue and another member Dan Christman said the initiative was not only 'important in terms of near-term trade and investment gains, but is crucial to strengthening our partnership with world's largest free-market democracy.'

"American business leaders are united in their belief that civilian nuclear cooperation with India will foster deeper strategic ties that will yield significant commercial opportunities for UScompanies," he said.

He pointed out that India's energy requirements require investments of more than US$ 170 billion by 2012 and American firms look forward to providing equipment, services and technology to assist India in meeting its energy needs.

"India's nuclear power requirements are projected to generate as many as 27,000 high-quality jobs each year for the next 10 years in the US nuclear industry alone. If the US forgoes this opportunity, these benefits will go to the competition", Donahue said.