Post Tagged with: "Obama and Modi"

Insuring nuclear suppliers using Indian tax payers’ money – how nationalist is diluting liability, Mr. PM?

Insuring nuclear suppliers using Indian tax payers’ money – how nationalist is diluting liability, Mr. PM?

Community Updates, Nuclear Liability January 27, 2015 at 8:46 am 2 comments

On the eve of India’s Republic Day, the Modi government has announced that it will arm-twist the public-owned General Insurance Company(GIC) to provide insurance cover for the nuclear suppliers. Though the exact details are still not clear, the media reports suggest that the Indian government has found a roundabout way for the US nuclear suppliers’ like Westinghouse and General Electric (GE) which have been lobbying to affect an amendment in the Nuclear Liability Act of 2010 ever since its inception. Touted as a big breakthrough during President Obama’s ongoing visit, this move is clearly a capitulation to the long-standing demand on the issue.