India Wins Accord to End 34-Year Ban on Nuclear Trade (Discussions)
By Novell on Sep 6, 2008 in Business and Economy, Defense, Discussions
India won the right to buy atomic- energy equipment after a suppliers’ group lifted a three-decade ban on exports to the country, swayed by promises that the nation will keep its moratorium on nuclear-bomb tests.
This constitutes a major landmark in our quest for energy security and the decision will open a new chapter in India’s cooperation with other countries in the peaceful use of nuclear energy
The waiver means that companies including France’s Areva SA, Russia’s Rosatom Corp. and Japan’s Toshiba Corp. will be able to export nuclear equipment to India. General Electric Co. and other U.S. companies will have to wait until Congress ratifies a 2006 trade pact backed by George W. Bush and Prime Minister Manmohan Singh.
“This constitutes a major landmark in our quest for energy security and the decision will open a new chapter in India’s cooperation with other countries in the peaceful use of nuclear energy” Indian Foreign Minister Pranab Mukherjee said in televised comments.
China was India’s secret enemy at Vienna
Source: Bloomberg, IBNLive
It was a historic Saturday with decades of India’s nuclear isolation ending and the world’s biggest democracy finally making its tryst with nuclear destiny. So what does this deal mean for India and who will ultimately benefit from it – the US, the Indian polity or the common man?
Post a Comment