'US, India taking steps on 123 agreement'

The United States has said that it is taking up steps with India to finalise the civilian nuclear initiative by coming to an understanding on the 123 agreement that is currently under discussion by the two sides.

At a seminar at the Woodrow Wilson Center, US Under Secretary of Commerce for International Trade Franklin Lavin did not agree with a perception that the ball is in India's court and somehow New Delhi is unwilling to return the "serve."

"What both countries are trying to do is to move the relationship ahead in an important area. It is unprecedented for both India and the United States. Both sides are moving and both sides are undertaking steps that their systems, their regulators are not familiar with. So it will take a while," he said at the seminar, which was jointly organised by the Centre and Federation of Indian Chambers of Commerce and Industry.

Lavin said both the US and India have responded in good faith to the nitty gritty of the implementing details and his country has no concern over it.

"I don't think there is any concern on the US side, but the sooner we get it done the better. There is a lengthy pipeline in this project. Let us not waste an extended period of time," he said adding, there was indeed "enormous support" for this nuclear initiative in the US business community.

Lavin praised India for its economic reforms and policy initiatives and said that the challenge for the US and India was in making up for the "lost time."

"India is booming. India is not a country. It is a continent with extraordinary opportunities from Boeings to laptops," Lavin said when asked to comment on opportunities for American business houses.