Indo-US nuke deal to synergise India's talent with US tech: Bodman

New Delhi, Mar 20 (UNI) The Indo-US civil nuclear agreement is a major opportunity in synergising India's scientific talent and creativity and the United State's advancement in technology, safety and security in the development, the US Energy Secretary Samuel W Bodman said here today.

''A major component of any clean energy strategy must be nuclear power and I strongly believe that the civil nuclear agreement currently under negotiation is good for India, is good for the United States, is good for our mutual energy security and is good for the global non-proliferation system,'' he said Mr Bodman added that the countries must continue the negotiations on the agreement and push forward with the necessary steps.

The US Energy Secretary called for diversification of the energy portfolios by expanding the use of alternative and renewable sources.

Diversification toward alternatives could greatly relieve pressure on markets for conventional sources over time, while also addressing environmental concerns.

There are myriad technologies from solar and wind energy, to hydrogen and biofuels but the key is increasing both their availability and cost-competitiveness, he added.

He highlighted the development of India's domestic oil and natural gas reserves - including offshore sites as well as coal-bed methane and, especially, clean coal technologies.

In order to increase global access to conventional fuels, there is a need for stable regulatory frameworks, open investment climates, adherence to the rule of law, and market-based pricing of energy resources.

''India, he said, cannot continue to fuel its economy without heavy investment in energy diversification and infrastructure, including foreign investment, he said adding, ''This is one area where we are not living up to the potential of our relationship.'' FICCI President Habil Khorakiwala underlined the imperative for India and the US to further the cooperation towards the development of India's nuclear sector, which currently contributes to only four per cent of the countries total electricity generation.

Greater cooperation on this front will be mutually beneficial for both countries, he said.

UNI