It is reported that the IAEA Board of Governors will consider approving its safeguards agreement with India on July 25, setting the stage for consideration by the 45-nation Nuclear Suppliers Group (NSG) to waive conditions relative to India, ending Indias nuclear isolation, and enabling civilian nuclear trade in technology and fuel by the entire 45-nation body.

This marks an historic victory for India and for the globe, said Ron Somers, President of the U.S.-India Business Council (USIBC), the Industry group that earlier spearheaded legislation in the United States in 2006 to change the U.S. Atomic Energy Act of 1954, enabling civilian nuclear cooperation with India.

India's responsible record in developing its existing civilian nuclear power program will bring much-needed talent and innovation to the nuclear renaissance underway, necessary to stem global warming, Somers added.

With Indias Parliament voting to support Prime Minister Singh in moving forward with the civilian nuclear cooperation initiative that he started on July 18, 2005 during his visit to Washington, the next crucial step towards ending Indias nuclear isolation moves to the United Nations International Atomic Energy Agency (IAEA), which is scheduled to consider approving safeguard protocols for Indias existing and future civilian nuclear power facilities.

India presently generates approximately 3500 MW using atomic power. Some of these facilities are already under IAEA safeguards. July 25 is the next key date in the clearance process to end Indias nuclear isolation, Ron Somers said.

Following IAEA approval, the 45-nation Nuclear Suppliers Group (NSG) must reach consensus to exempt India from certain conditions, which will enable the NSG to begin civilian nuclear trade with India. The United States, Great Britain, France, Russia, Japan, China, and most recently Australia - all key members of the NSG - have already echoed their support for ending the embargo against civilian nuclear trade with India.

Once the NSG makes its rule-changes enabling civilian nuclear trade with India, the U.S. Congress must ratify the so-called 123 Agreement, negotiated between the U.S. and India in 2007, which will open the way for U.S. companies to participate in civilian nuclear cooperation with India.

Time is tight - in that the U.S. Congressional Calendar is jam-packed between now and the U.S. Presidential election, scheduled in November, Somers said.

We are encouraged by recent statements made by Senate Foreign Relations Committee Chairman, Senator Joe Biden, who says he will find time to press for ratification of the 123 Agreement so long as India is able to complete its steps, Somers offered. USIBC and the Coalition for Partnership with India will be front and center in this debate to ensure U.S. Congressional passage, Somers added.

India has a total installed capacity of 135,000 Megawatts (MW), mostly comprised of thermal power, which is carbon-emitting, causing global warming. Indias Nuclear Power Corporation (NPC) has a goal of augmenting this capacity by as much as 30,000 MW to 60,000 MW over the next 20 years - requiring investments in excess of $100 billion.

U.S. companies look forward to cooperating with Indian companies to achieve this important energy security infrastructure build-out, Somers said. Of the worlds existing nuclear power reactors, which number 400, Indias reactors total 22, while U.S. reactors exceed 100 - more than any other country.

The U.S.-India Business Council (USIBC), formed in 1975 under the aegis of the U.S. Chamber of Commerce, is the premier business advocacy organization representing 280 of the largest U.S. companies investing in India, joined by two dozen of India's largest global companies. USIBCs mandate is to deepen U.S.-India commercial ties.

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