India to sign N-damages pact

India will sign the international agreement on nuclear damages, the Convention on Supplementary Compensation (CSC) for Nuclear Damage, on Wednesday. The Manmohan Singh government has informed the IAEA that it’s ready for a signature, which will be done by Dinkar Khullar, India’s envoy in Vienna. The accession to the CSC is being seen as the last Indian commitment for the India-US nuclear deal to be ready for commercial agreements. It was part of a promise India had made to the US in September 2008. Though India had said it would sign on, the US had stepped up the demand for India’s accession after India’s nuclear liability law left US companies deeply unsatisfied. India will be the 14th country to sign on the CSC, and when it ratifies it, one of a handful. Along with the signature, India will also provide IAEA with a list of reactors it plans to bring under the CSC. The treaty will take many years to come into force, because it will need 400 GW of nuclear power within its ambit, which is a long way away.

No comments: