"With this pact, our country embraced a policy based on the premise that the national security and economic future of the United States would be enhanced by a strong and enduring partnership with India," said Lugar, the ranking member of the Senate Foreign Relations Committee at a Congressional hearing for Tim Roemer, the US Ambassador nominee for India.
However, the implementation of this historic deal would depend much on the next US ambassador to India, he said.
"Although the agreement has been concluded, its success will depend greatly on the diplomatic work overseen by our next ambassador," the top lawmaker said, adding "Roemer's national security experience will be put to excellent use as ambassador to India."
In 2008, the United States and India concluded the landmark US-India Peaceful Nuclear Cooperation Agreement, he said, adding that it was one of the most important strategic diplomatic initiatives undertaken by the United States in the last decade.
With India and the US enhancing their economic partnership, he hoped Romer's Congressional experience and familiarity with the composition and needs of local economies stressed by the global downturn will be advantageous as he seeks to generate economic opportunities in India for American businesses and their employees.
Lugar said the US and India have common democratic values and the potential for limitless economic engagement.
Noting that the progress made by India in the last decade is one of the world's major success stories, Lugar said, "With a well-educated middle class that is larger than the entire US population, India can be an anchor of stability in Asia."
It is also extremely important to address global energy security, food security, and climate change, Lugar said.
"I share the President's confidence in Tim Roemer to lead our diplomatic efforts in India at this formative moment in history," Lugar underlined.