Nuke business tops Manmohan-Obama meeting agenda
Prime Minister Manmohan Singh is likely to reassure US President Barack Obama on Friday that New Delhi will soon ratify the Convention on Supplementary Compensation (CSC) and frame rules under the Civil Liability for Nuclear Damage Act to address the concerns of the American nuclear companies seeking to enter the market in India.
Singh is likely to have a bilateral meeting with Obama on the sidelines of the East Asia Summit in Bali in Indonesia on Friday.
This is going to be the first meeting between the two leaders after the US President’s visit to India in November 2010.
The government is understood to be in the final stage of framing the rules under the Civil Liability for Nuclear Damage Act.
Sources said best possible efforts are being made to ensure that the rules address the concerns of all foreign companies, including the ones based in the US, over the stringent liability regime, without compromising on the spirit of the Act.
Sources told Deccan Herald that the government is also planning to ratify the CSC next month.
New Delhi signed the CSC on October 27 last and its ratification will limit the liability of the US and other foreign companies seeking to supply nuclear technology to India.
End to speculation
Both New Delhi and Washington hope that the Obama-Singh meeting in Bali will end speculation on the drift in the bilateral relation, caused mainly by the US companies’ concerns over the nuclear liability regime of India and their decision to drop two American contenders from the fray for the $10.4-billion contract to provide 126 medium multi-role combat aircraft for the Indian Air Force.
Singh will leave for Bali on Thursday to attend the ninth Asean-India Summit and the sixth East Asia Summit. Apart from Obama, he will also hold a bilateral meeting with Chinese Premier Wen Jiabao during his stay in Bali.
He will pay an official visit to Singapore from November 19 to 20.
