- The Indo-U.S. civilian nuclear agreement, known also as the Indo-U.S. nuclear deal, refers to a bilateral accord on civil nuclear cooperation between the United States of America and the Republic of India. The framework for this agreement was a July 18, 2005 joint statement by Indian Prime Minister Manmohan Singh and then U.S. President George W. Bush, under which India agreed to separate its civil and military nuclear facilities and place all its civil nuclear facilities under International Atomic Energy Agency (IAEA) safeguards and, in exchange, the United States agreed to work toward full civil nuclear cooperation with India.
- On September 6, 2008 India was granted the waiver at the NSG meeting held in Vienna, Austria. The consensus was arrived at after overcoming misgivings expressed by Austria, Ireland and New Zealand and is an unprecedented step in giving exemption to a country which has not signed the NPT and the Comprehensive Test Ban Treaty (CTBT)
- The US House of Representatives passed the bill on 28 September 2008. Two days later, India and France inked a similar nuclear pact making France the first country to have such an agreement with India. On October 1, 2008 the US Senate also approved the civilian nuclear agreement allowing India to purchase nuclear fuel and technology from the United States.
Why was the Nuke Deal so important?
The NSG waiver is a truly global opportunity. As India opens its doors for nuclear trade, it will generate worldwide business worth $40 billion, allow Indian companies to supply components to foreign N-plant makers, offer power-generation opportunities to Indian firms and increase the nuclear power level in the country to 52,000 megawatt by 2020 from the present 4120 megawatt, according to nuclear experts.
The waiver will not only help nuclear power, according to experts, it will also benefit trade in high-technology areas like pharma, semi-conductors, precision engineering, defence equipment, advanced and speciality chemicals, electronics, sensors, environmental technology, space, automation and robotics.
Developments after the Deal with USA:-
Following a waiver from the Nuclear Suppliers Group in September 2008 which allowed it to commence international nuclear trade, India has signed nuclear deals with several other countries including France, United States, and Kazakhstan. In February 2009, India also signed a $700 million deal with Russia for the supply of 2000 tons nuclear fuel.
India, Canada sign nuclear pact
- India and Canada on Nov 28’ 09, announced the conclusion of a civil nuclear deal that will enable India to access Canadian nuclear technology and uranium. A new agreement will give India the opportunity to buy nuclear technology and uranium from Canada for the first time since 1974, when Canada banned uranium sales after India used nuclear fuel from Canadian-made reactors to build an atom bomb.
- Canada is the largest exporter of uranium and India needs the nuclear fuel to meet its rapidly-growing energy needs. India's uranium reserves are estimated at 115,000 tonnes but most of this is of low quality, thus necessitating imports for the country's nuclear plants.
- The deal will allow Canadian firms to export and import “controlled” nuclear materials, equipment and technology to and from India.
- Canada's exports to India in the nuclear field "could range from engineering services, design and construction of plants and subsystems, balance of plants, uranium supply, mining, to safety assessments and licensing".
- A backgrounder provided by the Canadian government says the agreement "will allow Canadian firms to export and import controlled nuclear materials, equipment and technology to and from India, while ensuring that Canadian supplied goods and technology are used for peaceful, civilian purposes".
World’s biggest uranium firm coming to India http://www.thaindian.com/
India, Russia sign Nuclear deal
- Since early 1990s, Russia has been a major source of nuclear fuel to India.
- Due to dwindling domestic uranium reserves, electricity generation from nuclear power in India declined by 12.83% from 2006 to 2008.
- India signed a civil nuclear agreement with Russia on 08 Dec’09 that will guarantee uninterrupted uranium fuel supplies for its atomic reactors and transfer of technology and also inked three military pacts.
- The defence agreement will provide for joint development of weapons systems and platforms over a 10-year period up to 2020 and vital after-sales support for Russian equipment supplied to India to end ad hocism in this critical area.
- The Indo-Russian pact on atomic cooperation is a significant document and goes much further than the 123 agreement between India and the US as the pact provides for uninterrupted uranium fuel supplies from Russia even in the event of termination of bilateral ties in this field for any reason
- The pact also has provisions for transfer of enrichment and nuclear technology, which is denied in the 123 agreement with the US.
Companies that will benefit-
As many as 400 Indian and foreign firms are seen as the beneficiaries of the far-reaching NSG verdict. India will can now attract over $40 billion in foreign investment over the next 10-15 years as the result of private sector entry into India's nuclear power generation.
Nuclear Power Corporation of India (NPCIL) - NPCIL is a public sector enterprise under the Department of Atomic Energy, Govt of India and operates the atomic power stations as well as implements the atomic power projects for the generation of electricity.
L&T - is likely to get mainstream nuclear projects given its vast experience in engineering.
BHEL - is currently supplying up to 500 megawatt of equipment to Nuclear Power Corporation. It has an existing tie-up with Siemens for nuclear technology.
NTPC - is looking at setting up 2,000 MW nuclear plants and is in talks with GE Energy for technology and fuel.
AREVA - is reportedly looking at a plant for uranium mining and recycling. The plant would be set up after nod from Nuclear Power Corporation.
APIL - an established player in nuclear business is currently manufacturing nuclear reactors, rotors and turbines for nuclear power stations. The company is expected to receive business from its parent company, which is a world leader in conventional nuclear projects.
ROLTA - in association with Stone and Webster offers reactor-building technology to client companies. A 20% stake held by Stone and Webster in Westinghouse Electric could benefit Rolta India.
ABB makes components for power projects. The company could benefit from its parent company that has relevant exposure in manufacturing of new nuclear power plants, systems and components.
HCC has relevant exposure in engineering procurement and turnkey construction contracts for nuclear projects. It has so far constructed four nuclear power projects in India.
N-trade: It's a $40 billion opportunity http://timesofindia.
Nuclear power generation to touch 6,000 Mw by next year http://www.business-standard.
Slowdown not to affect India's nuclear plans http://www.business-standard.
NPCIL plans to raise Rs 85K cr to fund projects http://economictimes.
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