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One nuclear deal done, more lined up

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    External Affairs Minister Pranab Mukherjee and Condoleezza Rice after signing the agreement in Washington.

    The government will provide details of the developments on the nuclear front since it won the trust vote in July. Given that the PM had said he would come back to Parliament before operationalising the agreement, the government will look to allay concerns that continue to be voiced even after India has obtained a clean NSG waiver and signed framework agreements with US and France.

    The government also plans to amend the Atomic Energy Act to strengthen the Atomic Energy Regulatory Board as a precursor to allowing private investment. Discussions are underway whether to go in for a one-time amendment that opens doors for private investment or to move one step at a time by first strengthening the regulatory mechanism.

    The other major issue, particularly for US companies to enter Indian market, is the introduction of a Liabilities Act where the State would have to insure in case of any major incident in nuclear sites with foreign reactors. This is part of an international practice on which US laws make it a mandatory requirement for its companies can make investment in this sector. France and Russia, however, do not impose such stringent requirements.

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    Chain-reaction of Indian economyBy: Raj Kumar Kamal | 12-Oct-2008 Reply | Forward Like nuclear chain reaction, the nuclear deal with US is garnering newer and newer deals which will lead to industrial boom in India in a couple of years and isolate it from global depression likely to overwhelm the developed countries.
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