Describing the NSG waiver as an ‘enabling provision’, Mukherjee said the exemption allows NSG countries to have civil nuclear trade with India and that such cooperation can fructify through bilateral arrangements which need to be finalised.

On the question of reprocessing facilities, he said the issue will be addressed when India enters into bilateral arrangements. "How we will respond to bilateral arrangements, that will depend on the contracting parties," Mukherjee said.

Underlining that the Indo-US relations go beyond the civil nuclear deal, Rice said: "It (the deal) gives us a new platform for cooperation in energy matters to develop civil nuclear power. We have opened new channels with India in areas of technology, agriculture, education and defence cooperation."

"The civil nuclear initiative is a historic agreement and historic achievement. The US will stand by its commitments," she said, adding the US cooperated with India in the IAEA in view of its track record in non-proliferation.

Describing the Indo-US ties as ‘one of the broadest relations’ between the two countries, Rice hoped that whoever succeeds Bush as President (after the November elections) would continue to build on the ‘strongest relationship’ that Singh and Bush initiated in 2005.

"India-US relations are today better than ever before and have transformed into a truly strategic partnership," Mukherjee said.

"As we looked back with satisfaction at the transformation of India-US relations, we are convinced of the future prospects of this relationship," he said while noting that their ties had more than bilateral significance with both working together on a wide range issues including climate change and on UN Security Council.