N-Deal, a must for nine per cent growth: Assocham
Polity, industry debate the merits of Nuclear Deal at an ASSOCHAM meet;
Harvard prof cautions India about its foreign policy priorities

By Management Compass Bureau
The Indo-US nuclear deal, which is facing stiff opposition from Left parties, will help India in technology innovations, besides meeting its demand for energy, said industry body Assocham during an interactive session on Indo-US nuclear agreement held in New Delhi in mid of April. On the occasion, ASSOCHAM president Venugopal N Dhoot said the country should go ahead with the Indo-US Nuclear Agreement to achieve 9-10 per cent growth rate in the next 10 years. However Communist Party of India (CPI) national secretary

D Raja, who was present at the occasion, opposed this view and sought a fresh negotiation on the issue of Indo-US Nuclear Agreement. He said that the US saw India as a big market and therefore was in haste to seal the pact. ‘’The deal is threat to the country’s independent foreign policies and will have direct impact on the national security,’’ he added.

A study by Assocham on the issue ‘Liberating India from technology denial regime — Indo-US nuclear agreement’ was also released. According to the study, “The US is willing to consider such a major initiative because India has emerged as a giant economy, a stable democracy and a responsible nuclear weapons power. Therefore, India should approach this initiative as a larger opening to international community on nuclear energy.’’ The study pointed out India’s need for nuclear deal by citing case studies of the US, France, UK and many other developed countries. According to the study, in the US, which draws 21 per cent of its electricity from nuclear energy, more than 40 reactors have obtained life extension approval. France, which draws 78 per cent of its electricity from nuclear power, remains committed to its continued promotion. The UK, after years of inaction, has once again signalled its intention of building new reactors and is even discussing a larger industry partnership with France. Russia is seeking to push up its nuclear energy dependence from 16 per cent to 25 per cent. In Asia, Japan (40 per cent) and Republic of Korea (15 per cent) are likely to continue their nuclear energy programme unabated, now joined by China, which has undertaken an extraordinarily ambitious programme of nuclear energy with diversified reactor technologies.

“Continued opposition to Indo-US Nuclear Agreement would jeopardise India’s nuclear interest as it would amount to denial of technology to it,’’ said the president elect of Assocham Sajjan Jindal, adding that international cooperation in areas like satellite launching, precision engineering, high and sourcing or even defence production would be severely constricted.

Referring to the much-talked- about Hyde Act, the papers describes it a relevant and enabling legislation passed by the Congress and assented by the President, which allows the US to work out nuclear cooperation agreement in India.

Handholding for herbs
Industry, discusses ways to promote this returned products industry

At an international summit on medicinal products and herbs organised by the ASSOCHAM (Associated Chambers of Commerce & Industry) as part of a joint endeavour in New Delhi, delegates and industry people stressed on the need for developing a business platform for the herbal industry. The three-day event aimed to showcase the strength of the sector, which is striving to make use of the available opportunities.

A large number of major herbal companies from India and abroad participated in the event, which was looked at as a powerful forum for marketing of natural products. Both the ASSOCHAM and the industry saw the event as a perfect environment for end users to see the whole herbal industry at one marketplace and make a long-term international impact.

Currently, the Indian herbal market industry is estimated to be Rs 7,000 crore but the country’s contribution to the world market is abysmal. Its quality standards in terms of manufacturing standards are low even though worth over Rs 3,600 crore of raw herbal materials and medicines are exported by India.

Those participating felt that a focussed products scheme, which would provide a market access in all countries, is needed on an international level. Sustainability of quality raw material was another area of concern.

“The efficacy of the medicinal plants in India needs to be documented in a better way and the export potential of these drugs should be fully exploited,” said Panabaaka Lakshmi, Union minister for health and family welfare, present on the occasion.

While some participants called for a need to convert the rice producing fields to herbs, so that farmer earnings could be increased, others expressed that ayurveda industry does not have an effective voice and that the industry needs to have a relation with farmers so as to give impetus to cultivators.

There was a consensus that a proper handholding between government and industry is required for the overall growth of the industry.