Author: Manmohan Singh
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70 percent of India's imports of oil and oil products are imported from abroad. There is uncertainty about supply. There is uncertainty about prices. And that hurts India's development.
If we have access to nuclear energy, that adds to our maneuverability in ensuring energy security as India marches on, on the path to accelerated development.
There may be a difference of the pace at which India moves, but there should be no doubt whatsoever about the direction in which India is going to move in years to come.
Let me say that I think the economic history of the last 150 years clearly shows that if you want to industrialize a country in a short period, let us say 20 years, and you don't have a well-developed private sector, entrepreneurial class, then central planning is important.
I think there are enormous possibilities. And today there are no I think barriers to increased cooperation with India and the United States.
The Chinese economy is growing at the rate of 9 percent; the Indian economy growing at the rate of 8 percent - enormous I think opportunities for two-way flow of trade, technology and investment.
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