The Hindu Business Line : US ready to partner India's growth story: Lavin

WE ARE READY: (From right) Mr R. Seshasayee, President, CII, Mr Franklin L. Lavin, Under Secretary, International Trade, US Department of Commerce, Mr Ashwani Kumar, Minister of State for Industry, and Mr Saroj Kumar Poddar, President, FICCI, addressing a US-India Business Summit 2006 in Mumbai. — Shashi Ashiwal

Mumbai , Nov 29

Mr Franklin L. Lavin had a simple message for India Inc at the conclusion of his speech on the opening day of the US-India Business Summit at the Grand Hyatt.

"For years Indians have told me that they want to do business with Americans and are waiting for the right opportunity. To them I say: your wait is over. Your opportunity is today. We are prepared to work with you, and we are ready to be your partner in a world that is getting smaller and is within reach right now."

Mr Lavin, the US Under Secretary of Commerce for International Trade, is in India with the largest ever US Federal Government-led trade mission. The mission comprises 238 business participants from 186 companies representing a diverse range of industry sectors. There are participants from 35 US states and the District of Columbia, with 68 per cent of the businesses being small firms. Illustratively, roughly half of the companies are visiting India for the first time.

One of the sectors where there is a lot of US interest is nuclear power.

"We have with us in the course of this trade mission, we have about 250 participants, about 30 of them (representing 14 companies) who have some type of construction or engineering or technological background in the nuclear industry," Mr Lavin told members of the media. "So it shows you that there is keen interest on the US side."

Although Mr Lavin declined to put a dollar amount on the nuclear sector, he pointed out that in a typical scenario, energy needs tend to outstrip economic growth. Since India's GDP is growing at eight per cent, its energy needs might be growing at 10 or 15 per cent. Therefore there will be a need to build capacity, he said.

While no new nuclear plant has been built in the US for three decades, over the last five years 22 new plants have been licensed. Some of those plants will break ground this year or next year.

Mr Lavin also called the civilian nuclear deal between the two countries "special".

"It is special for India and it is special for us," he said. "It is the first time since the creation of the IAEA that we are doing a carve out or exception for any country. And I think it is a very positive statement about the nature of the US - India relationship. It behoves these two great democracies to find ways to work together."

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