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India’s Compensation for Nuclear Liability and Damages law remain unchanged, risk assessment transferred to commercial opeartors & suppliers

Author: Suhasini Haider, Hindu, Published on: 25 January 2015

Prime Minister Modi and President Obama announced a “breakthrough understanding” that would allow the commercialization of the Indo-US civilian nuclear deal launched in 2005...The breakthrough also signaled a significant diplomatic victory for India’s stand that it would not dilute its liability law, although it will almost definitely mean a higher cost to any nuclear deal concluded with US companies than was earlier anticipated....In effect, Indian officials were able to convince US officials to clear the logjam by transferring the “risk assessment” to the commercial operators and suppliers, i.e. GE-Hitachi and Westinghouse...the President of the US India Business Council Diane Farrell called the agreement “A good first step. But...will still need some more technical commentary about some of these proposed changes and solicit a response from companies.”

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Related companies: General Electric Hitachi Westinghouse