India signs N-liability IAEA pact
India on Wednesday signed the convention on supplementary compensation for nuclear damage at the IAEA’s headquarters in Vienna, with just a week to go for US President Barack Obama’s landmark visit to this country.
The US had sought signing of the treaty governing global civil nuclear liability to pave the way for American firms to enter the Indian civil nuclear energy market. New Delhi hopes signing of the convention will allay some of the fears of US companies about the nuclear liability law passed earlier by the Indian Parliament.
A PTI report from Vienna quoted IAEA press officials as confirming that the Indian government had signed the convention on Wednesday. It was signed by Indian ambassador to Austria Dinkar Khullar, who is also resident representative to the IAEA.
US ambassador to India Timothy J. Roemer said India’s accession to the CSC “recognises the benefits to India, to Indian suppliers, Indian industry and to the Indian people. This helps affordable and clean electricity for the people of India.”
The convention sets out the parameters of financial liability for the operator of a nuclear reactor. It provides for compensation in case of transnational implications of a nuclear accident and has been signed by 14 countries, including India. However, only four countries — the US, Argentina, Morocco and Romania — have ratified it so far.
Upon entry into force, the convention will establish a uniform global legal regime for compensation to victims in the event of a nuclear accident. It provides for establishment of an international fund to increase the amount available to compensate victims and allows for compensating civil damage occurring within a state’s exclusive economic zone, including loss of tourism or fisheries-related income.
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