Mumbai (PTI): India on Thursday scotched speculation that the Indo-US Civil Nuclear Deal has been put on the back burner in the wake of the political deadlock over it between UPA government and Left parties and said it was committed to it.

"As the Prime Minister said, we are optimistic...we (India and US) have reached an understanding as equal partners and we are committed to the 123 Agreement," Minister of State for External Affairs Anand Sharma told reporters here on the sidelines of FICCI conference.

He said India was sincerely carrying on negotiations with the International Atomic Energy Association (IAEA) as nuclear energy was an "important component" in India's fuel mix.

"The cooperation is in national interest and also in the interest of the economic growth of the country," Sharma said.

He also pitched for expanding the United Nation's Security Council stating that it should reflect "contemporary realities."

"The Security Council cannot have a democratic character if it excludes the largest democracy like India or Africa or countries of Latin America," he said.

The at Council now comprises five countries - US, China, France, Britain and Russia - with veto powers.

"The UN must be democratic in its structure to reflect contemporary realities," Sharma said.