Business Roundtable Urges Congressional Support for U.S.-India Civilian Nuclear Cooperation Agreement

Washington, DC - In a letter to all Members of Congress, Business Roundtable today urged support for legislation to implement the U.S.-India Civilian Nuclear Cooperation Agreement.

The Business Roundtable letter outlined how support for the Agreement would promote closer economic, foreign policy and security relations between the United States and India, stating: "In terms of economic cooperation, it is important to recognize that India's economy has been the second fastest growing in the world in the last 15 years and needs energy to propel even more growth. With India's investments needs in energy expected to be in the tens of billion of dollars over the next several years, U.S. exporters and their workers will be well positioned to provide India with the goods and services to meet those demands."

Business Roundtable pointed out that Britain, France, Russia, Australia other leading members of the Nuclear Suppliers Group, in addition to the International Atomic Energy Agency, have all spoken out in favor of civilian nuclear cooperation with India. Noting India's impeccable record on non-proliferation, the Roundtable letter continued: "By being able to help India in its development of civilian nuclear power, this agreement also will serve our strategic and security-focused non-proliferation goals. For the first time, India will be brought formally into the global regime aimed at preventing the spread of nuclear weapons."

The letter was signed by Harold McGraw III, Chairman, President & CEO, The McGraw-Hill Companies, and Chairman, Business Roundtable International Trade and Investment Task Force, on behalf of Business Roundtable's 160 member companies.

For a complete copy of Business Roundtable's letter to Congress, click here.

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Business Roundtable (www.businessroundtable.org) is an association of chief executive officers of leading U.S. companies with over $4.5 trillion in annual revenues and more than 10 million employees. Member companies comprise nearly a third of the total value of the U.S. stock market and represent nearly a third of all corporate income taxes paid to the federal government. Collectively, they returned more than $98 billion in dividends to shareholders and the economy in 2004.

Roundtable companies give more than $7 billion a year in combined charitable contributions, representing nearly 60 percent of total corporate giving. They are technology innovation leaders, with $86 billion in annual research and development spending -- nearly half of the total private R&D spending in the U.S.

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