November 4, 2010 2:16 PM

printer

Obama's visit to give push to Indo-US civil nuclear commerce

The US President Barack Obama's visit will give a push to the Indo-US civil nuclear commerce; say Indian industrialists and organizations including CII, FICCI and ASSOCHAM. India needs a huge 175 billion US dollar investment in the nuclear power sector to meet the growing energy demand. Several US companies have already started negotiations after the Parliament passed the civil nuclear liability bill and New Delhi signed the Convention on supplementary Compensation which sets parameters on a nuclear operator's financial liability with IAEA. The science and technology minister Prithviraj Chavan has said the formalities at the government level have already been completed and the negotiation between different entities takes time. India has already signed civil nuclear cooperation agreements with eight countries including US, France, Russia, Canada and Kazakhstan. Several companies supplying nuclear and other equipment have also started talks with their Indian counterparts. The biggest maker of atomic power reactors in France is awaiting approval from French parliament and regulator to start the business. New Delhi is currently holding discussions with Japan on the issue. AIR correspondent quoting highly placed sources reports that some of the US companies have raised concerns from accident claims but New Delhi is firm that there will be no question of changing the law. The historic signing of civil nuclear deal between India and the United states opened up the doors for civil nuclear commerce for India with the international community.

Most Read
View All arrow-right

No posts found.