Sunday 25 January 2015

Factbox: Obama and Modi unveil India nuclear trade breakthrough

(Reuters) - U.S. President Barack Obama and Indian Prime Minister Narendra Modi unveiled a deal aimed at unlocking billions of dollars in nuclear trade and deepening defense ties, steps both sides hope will help establish an enduring strategic partnership. Following are some key agreements and points of discussion during Obama's visit: CIVIL NUCLEAR India and the United States struck a deal that could open the door for U.S. companies to build nuclear reactors in India by promising insurance cover to U.S. companies that had shied away from an Indian law placing liability on suppliers in case of an accident. It remains to be seen whether the new pact will satisfy companies such as GE and Toshiba-owned Westinghouse, who had stayed away since a landmark 2008 agreement that ended India's nuclear isolation. STRATEGIC IMPORTANCE India's size, location, fast-growing economy and potential as a democratic counterbalance to China makes the South Asian nation an increasingly important element of U.S. military and commercial strategy. via Health News Headlines - Yahoo News Read More Here..

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