'5 mn Americans depend on Indian companies'

Even as the debate on whether IT and other services should be outsourced to India is hotting up, there is a section of people in the US, which is more bothered about operations of Indian companies in America. An estimated 5 million Americans are dependent on the Indian companies in the US for their livelihood, according to US assistant commerce secretary David Bohigan.

Interacting with mediapersons here on Tuesday, Bohigan, who is leading the US clean energy trade mission to India to explore business opportunities, said the NSG waiver was a positive move that would foster clean energy business in both the countries.

The nuclear energy business in India would be in the order of $100 billion (about Rs 4 lakh crore) in about 10 years after the deal comes through. A few companies dealing in clean energy have been making enquiries with the commerce department about the possible trade opportunities and the scope of nuclear business, he said.

On a query why US did not set up new nuclear reactors in the past two decades, Bohigan said they were working on second generation reactors, which are more economical and reliable.

Among other things, the US is setting up a $2-billion (about Rs 8,000 crore) clean technology development fund for new work in clean technology in India. He said they were also in talks with other countries for contribution to the fund to reach out to more people with effective technologies and have begun work in the solar energy segment.

About 15 US companies dealing in technologies or products related to clean energy are now exploring the possibilities of forming joint ventures, product testing, market research and others in India. In this regard, city-based Sneha Kinetic Power Company has signed a memorandum of understanding with US-based Synergics Energy Services, which specialises in development of wind and hydropower projects, to develop a 96-Mw hydroelectric project on Dikchu river in Sikkim. This will be a run-of-river project comprising a diversion dam, a tunnel and an underground powerhouse. The project is estimated to cost Rs 500 crore.