Wilson Highlights Economic Benefits of U.S. - India Civilian Nuclear Cooperation

Wilson Highlights Economic Benefits of U.S. - India Civilian Nuclear Cooperation

Thursday April 06, 2006

“As Secretary Rice noted, ’as many as 3,000 to 5,000 new direct jobs in the United States and about 10,000 to 15,000 indirect jobs,’ could be created as a direct result of this agreement. The long term benefits are also enormous. India currently experiences numerous power shortages, which hinders its economic growth. By expanding civilian nuclear power, this agreement will enable the people of India to compete in the global economy. India’s middle class consists of 300 million people, and as they become more prosperous, they will increasingly rely upon U.S. goods and services.”

“India’s infrastructure needs more than $1 trillion of investment, which will provide new opportunities for the U.S. In 2005, U.S. merchandise exports to India increased by 30 percent over the previous year. Over the past four years, U.S. exports to India nearly doubled, and India is now our fastest growing export market. India’s economy is growing at seven percent, and future projections of economic growth are bright. We currently maintain a trade surplus with India in the services sector, and now is the time to lay a foundation with India to ensure free and fair economic trade. This agreement will solidify U.S.-India relations and have a positive economic effect in many areas, including defense procurement.”

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