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Indo-US nuclear deal to aid India's economic growth: Sharma

Written by: Staff
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New Delhi, Apr 19 (UNI) Terming the Indo-US Nuclear Agreement as a 'clear example' of the government's treatment of policy issues with 'long-term vision,' Minister of State for External Affairs Anand Sharma today said the deal would aid the country's economic growth.

''The recent Indo-US Nuclear Agreement is a clear example of how policy issues are being handled with long-term vision. India will in the future be in a position to generate significant amount of energy from nuclear plants which will help in the country's economic growth,'' he said.

Speaking on ''Good Governance: Key for Sustainable Development'' at the CII's National Conference on ''Sustaining Competitiveness: Fostering Development,'' Mr Sharma stressed the need of converting India's rural areas into an ''opportunity for employment, economic growth and poverty eradication.'' However, he cautioned that the acceleration of a market economy needed to be handled carefully, keeping in mind the 'handicaps' of farmers, rural industries and small units.'' ''If the rural population is left behind, it will be difficult to progress as a nation and achieve our goals,'' Mr Sharma said, adding that the UPA government was moving at a ''balanced pace, to carry all sections of society on the road to development.'' Noting the achievements of the government in fulfilling the National Common Minimum Programme (NCMP), he said the results were ''self-evident.'' Mr Sharma said GDP had grown above 7.5 per cent each in the last three years, international investor confidence in the Indian economy had been high as evinced in various reports and the country had witnessed a 13.2 per cent increase in foreign direct investment (FDI) in 2005.

However, he said a lot more had to be done, especially in further simplifying the regulatory procedures and ensuring infrastructure development.

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