US still in process of studying content of India's Nuclear Liability Act
Briefing media here, Deputy Spokesman Mark C. Toner said: "I think we're aware - you're talking about the implementing regulations that were published in the Gazette of India November 11th, right? I think we're still in the process of. And once we've reviewed them thoroughly, then we'll have comment.
India''s decision to notify liability laws ahead of talks between Prime Minister Manmohan Singh and U.S. President Barack Obama on the sidelines of ASEAN summit being held in Bali, Indonesia, is expected to add more substance to the bilateral talks.
A government source in New Delhi said that India does not see it as an insurmountable problem.
"People have been doing business in the nuclear field with India even without a nuclear liability bill. We aren't sure if this bill will address the concerns of the US companies wanting to do business with India. It is for those companies to decide. In India, Indian laws will apply so we have a control and say in that," the source said.
Ever since the Indo-US civil nuclear agreement was signed in 2008, American nuclear giants like GE and Westinghouse are desperate to tap the Indian nuclear market, which has potential of 150 billion dollars and is so far dominated by state run companies like Russia''''''''s Rasotom and France''''''''s Areva.
US companies have so far said that the liabilty laws in India are tough on suppliers and are also apprehensive about the right to recourse.
According to reports, the Rules of the Civil Liability for Nuclear Damages Act notified Thursday, states that the suppliers of nuclear material would be allowed to specify a ''''''''product liability period'''''''' beyond which they would not be held liable for any accident.
The operator of the nuclear power plant concerned would, therefore, have no ''''''''right of recourse'''''''' against the suppliers after this period is over, whereas the operator is liable for the lifetime.
The Civil Liability for Nuclear Damages Act was passed by Parliament in August last year,The notification of the rules made public today would clear the decks to make the law operational
The US administration and companies have been urging New Delhi to frame the liability law in accordance with international conventions. When the Liability Act is in place, American nuclear companies are likely to enter India.
Prime Minister Singh is meeting President Obama on Friday. Besides the contentious nuclear liability issue, bilateral discussions could also focus on the situation prevailing in Afghanistan and Pakistan, bilateral trade and defence ties.
The meeting between two leaders is taking place after a gap of nearly a year. The last meeting took place when President Obama visited India in November 2010. (ANI -Posted on / )
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