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Thursday, March 28 2024
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First Indo-US commercial deal on civil nuclear power signed

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Washington:India and the US have sealed the first commercial agreement on civilian nuclear power, five years after a landmark deal between the two countries was clinched.

Addressing a joint media interaction after talks with Prime Minister Manmohan Singh, President Barack Obama disclosed that the two countries have sealed the agreement.

“We’ve made enormous progress on the issue of civilian nuclear power, and in fact, have been able to achieve just in the last few days an agreement on the first commercial agreement between a US company and India on civilian nuclear power,” Obama said.

India’s nuclear operator NPCIL (Nuclear Power Corporation of India Limited) and US firm Westinghouse have signed an agreement that will pave the way for setting up an atomic plant in India.

However, there was no word on the tough nuclear liability clause in the Indian laws over which the US firms had strong objections.

There was a major uproar in India last week over the agreement because of apprehensions that it entailed bypassing the Civil Nuclear Liability Law in place in the country by waiving the operator’s right to recourse with the supplier.

Reiterating his commitment for strong ties, Obama said India is not just a regional, but also a global power.

Prime Minister Singh reciprocated the feelings, saying US is as an indispensable partner for India.

“India, as a significant not just regional power but world power, has worked closely with us on a whole range of issues from climate change to how we can help feed the world, alleviate poverty and deal with disease,” Obama told reporters in his Oval Office following their hour-long meeting.

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