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US Ambassador David C Mulford reminded that 'time is of essence' but underlined that Washington was 'not pushing' India as it has 'highest respect' for the political processes of this country.
"It is practical to complete the processes, if we can, during the course of this administration," Mulford told journalists here.
He pointed out that when the new President is elected in the US early next year, a new Congress will also come into being.
"If the processes are not finished during the term of this administration, then we must understand that there will be a new administration in the US and also a new Congress," Mulford said, adding that the nuclear deal issue may not then be taken up till the new government settles down in office, possibly by 2009 of 2010.
"There are practical problems there. It is desirable that we move forward. But we are not pushing. We are patiently waiting for India to complete the processes," the envoy said.
The comments came as talks between India and the IAEA on safeguards agreement continue amid stiff opposition from the government's Left allies to operationalisation of the deal.
Left parties, which provide crucial outside support to the government, have warned of serious consequences if the deal was operationalised.
The Left parties have given a go-ahead to the government to negotiate safeguards agreement with the IAEA on the condition that it will not be signed till approved by the UPA-Left committee set up on the issue.
Asked whether the US was 'disappointed' over the delay in operationalisation of the deal, Mulford responded, "We are partners with India, we are friends with India. There is no question of being disappointed."
He noted that India, being a democratic country, has its 'own political processes' for which the US has the 'highest respect'.
The Ambassador said the US did not want to be even seen as interfering in the 'domestic political processes' in India and that because of this no comment was made by any of the American officials during the last six months.
"We are waiting for the chance to take the step," he said while emphasising that both India and the US were interested in moving ahead "if and when we can".
The US is in touch with India and is following closely its negotiations with the IAEA with a hope that the talks will be successful, Mulford said.
Asked whether the US was hopeful of 45-nation Nuclear Suppliers Group (NSG) granting exemption to India, he refused to speculate as he pointed out that different countries had different views on the subject. To a question, Mulford disagreed that failure of the deal would affect the growing relations between India and the US.
He underlined that the relationship between India and the US had diversified to a large extent, which cannot be affected by any single issue.
On prospects of the deal getting an approval by the US Congress again, Mulford noted that the issue had received strong bipartisan support last time despite intense political differences, which 'bodes' well for future too.
"But there are so many extraneous circumstances," the Ambassador added. Mulford maintained that the deal was 'good for India, good for the US and good for the world'.
Quoting External Affairs Minister Pranab Mukherjee's observation that the agreement is a 'passport' for India's international cooperation in nuclear field, he said it sums up the significance of the deal.
He noted that several countries including UK and France were ready to have civil nuclear cooperation agreements with India on the pattern that the US has signed but outcome of IAEA talks was necessary.
To a question, he said Under Secretary of State Nicholas Burns will remain involved 'to some extent' with the deal even after he quits the State Department in March.

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USA wants quick money through sale of N-Technology to fix their econimic recession at home. THE ECONOMY of US IS SINKING so fast that "President" of US comes to deliver the speach on ECONOMIC Package instead of the FINANCE or TREASURY MINISTER in USA. THE HIDDEN GAME IS THE US DOLLAR IS ONLY WORTH PENNIES TODAY. USA want to keep the foreign investment in USA, to keep the dollar good agaist EURO and OTHERS. INDIA SHOULD WAIT for DOLLAR to come down to Rupees 30.00 or so in the next two years. Then the deal will be cheap for INDIA. India has nothing to loose.
On N-Deal issue, Amricans are just wasting their time with Manmohan Singh led incompetent government which is totally under the control of CPM and without the nod of CPM this govt will remain incompetent, impotent to sign any N-Deal with USA.
USA, please stop ordering Dr. Manmohan Singh, what to do? It seems everyone including Sonia, Raul, Left and cabinet ministers orders him, what to do. Ultimately, he is PM of India.
I believe India will have success.
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