Why in news?
The Indo-US Nuclear deal is on progress.
What is the Indo-US Nuclear deal?
- Under the agreement, India agreed to separate its civilian and military nuclear activities.
- It also agreed to open up the civilian part to inspection by the International Atomic Energy Agency (IAEA).
- In return, the US offered to resume full nuclear trade i.e Selling of reactors, Transfer of Technology, Uranium sale with India.
- This deal had went through several complex stages, including amendment of U.S. domestic law (Atomic Energy Act of 1954), a civil-military nuclear Separation Plan in India and an India-IAEA safeguards agreement.
- 22 nuclear facilities in India have been placed under IAEA safeguards so far.
Why U.S agreed for the deal?
- The US wants to bring India closer to the Non Proliferation regime by placing most of its nuclear capabilities under IAEA safeguards.
- U.S. also expects that such a deal could spur India's economic growth and bring in $150 billion in the next decade for nuclear power plants, of which the U.S. wants a share.
- India is one of the largest buyers of Uranium and everyone wants a share of this market.
- The U.S. may also benefit from Indian technology, especially the Thorium based research.
What is the progress in the deal?
- It has resulted in enabling import of fuel for reactors placed under International Atomic Energy Agency (IAEA)
- This paved the way for setting up of large capacity Light Water Reactors (LWRs) with foreign technical cooperation.
- India has approved for the construction of five coastal sites in cooperation with the Russian Federation, France & the USA.
- There are nine reactors under construction and another twelve have been accorded administrative approval and financial sanction by the government.
Source: Business Standard
