Business body IMC pitches in for Indo-US nuclear deal

Mumbai, Aug 21 (UNI) Even as the stand-off between the UPA government and the Left Front, continues on the Indo-US nuclear deal, Mumbai-based Indian Merchants Chamber today strogly defended the Manmohan Singh Government's decision and termed the deal in 'India's overall interests.'' In a statement here, chamber's President Niraj Bajaj said India's energy requirements were rising and nuclear energy had become necessary at this juncture.

''India's energy reserves are not only fast depleting but even the cost of energy imports is escalating. In this background, the deal is in the overall interest of the country,'' Mr Bajaj said.

''The deal will also enhance India's status as a peaceful nuclear weapons'state. It would also mean India integrating in the global nuclear framework,'' he added.

According to Mr Bajaj, if India did backtrack at this crucial juncture, the decision would not only be disasterous for the reforms process but also would mean serious face-loss for the government.

''Even on its own merits, it would mean India cutting itself from the nuclear powers as Pakistan may be trying with China for an agreement on nuclear energy,'' He said.

UNI