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US will lose much more: Hegde

Union Commerce Minister Ramakrishna Hegde today indicated that the loss to the United States due to the economic sanctions clamped on India following the recent nuclear tests would be much more than to the latter.

There need not be any apprehensions about the fallout of the economic sanctions and the country would go ahead and face the situation, he said.

At the same time, Hegde said the economic sanctions would not not be effective at all.

Though the Clinton administration had announced economic sanctions due to compulsions of the law in the United States, what action did it take against France which exploded a nuclear device three to four months ago and against China which triggered a nuclear device barely a month ago, he asked.

''Is it because we are poor that you want to enforce such sanctions?'' he asked the United States and added that the country should take it up as a challenge and act with courage, determination and unity to ensure regeneration of economic activity.

He said, ''We have various collaborations -- industrial, technical and financial participation from the United States and as far as trade was concerned the relations were excellent. The trade between the two countries had been growing from year to year.'' He hoped that it would not be affected.

UNI