The US on Tuesday made a strong case for pushing forward the civil nuclear agreement with India to reduce dependence on fossil fuels and increase use of alternative sources to achieve energy security.
"The civil nuclear agreement currently under negotiation is good for India, is good for the US, is good for our mutual energy security and is good for the global non-proliferation system," US Energy Secretary Samuel W Bodman said at a FICCI interaction.
Seeking to allay apprehensions, he said the agreement should not be viewed "as a threat, in any way to India's sovereignty or its nuclear programme," but instead should be considered as a major opportunity.
He also said India, US and other international partners "will soon begin construction on International Thermonuclear Experimental Reactor" that would validate the fusion process' potential to generate power and unlock a clean and virtually limitless source of energy.
Referring to the issue of energy security, Bodman underlined the need for taking collective steps to protect and modernise critical energy infrastructure, safeguard sea lanes and facilitate multiple delivery routes.
This, he said, was necessary to address any severe disruption in supplies of fossil fuels.
On India's decision to develop its strategic crude oil reserves, Bodman said: "We will continue to work together to coordinate our response in the event of global crisis."
The two countries, he added, could expand cooperation for development of coal-bed methane and clean coal technologies.
Bodman said the FutureGen power project, an international venture in which India is a partner, would work to create near zero-emissions that will produce hydrogen and sequester carbon dioxide underground.
The project will have significant benefits for both the economies, he added.
A stable regulatory framework, open investment climate and market-based pricing of energy resources were necessary to increase global access to conventional fuels, he said adding, "India cannot continue to fuel its economy without heavy investments in energy, including foreign investment."
"This is one area, where in my view we are not living up to the potential of our relationship," he added.
The role of the government was necessary and critical, but not sufficient as the real breakthrough was likely to happen in the private sector.
"The key is to unlock our energy future by ensuring that the innovation cycle continues at a rapid pace," he said.
India was well-positioned to contribute to this global challenge, with its talented pool of scientists and engineers and many partnerships with top universities in India and the US, he added.
