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Breakthrough: India-US end six-year-old logjam over civil nuclear deal

Author: Debobrat Ghose, Firstpost, Published on: 24 January 2015

...The issue of nuclear liability had been a bone of contention on reaching an agreement. As per the international norms, in case of any accident, the Indian government would have to pay heavy damages because all the nuclear plants in the country are run by the state-owned Nuclear Power Corporation of India (NPCIL)...India had ruled out changes in its 2010 liability legislation but offered to set up an insurance pool to indemnify companies that build reactors in the country against liability in case of a nuclear accident...The deadlock over the nuclear deal has been done away with during a one-on-one talk between PM Modi and President Obama...As per a new plan, those companies engaged in building nuclear reactors in India would buy insurance from the state-run reinsurer GIC Re. The companies would then recoup the cost by charging more for their services. Alternatively, the NPCIL would take out insurance on behalf of these companies.

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