Reuters reported that the move may be to make India라이브 바카라 market more lucrative for foreign manufacturers, mostly U.S. firms, aiding Modi라이브 바카라 promise to generate 100 gigawatts by 2047 in nuclear power production.
Prime Minister Narendra Modi's government may ease its nuclear liability laws removing the clause that holds suppliers financially liable for accidents, Reuters reported on Friday. A draft has been prepared by India's Department of Atomic Energy (DAE).
The move may be to make India라이브 바카라 market more lucrative for foreign manufacturers, mostly U.S. firms, aiding Modi라이브 바카라 promise to generate 100 gigawatts by 2047 in nuclear power production, according to Reuters.
India passed the Civil Nuclear Liability for Nuclear Damage Act in 2010 which made its suppliers liable for damage to nuclear equipment in case of accidents - not the nuclear plant operator.
DAE라이브 바카라 draft will set India라이브 바카라 law at par with global norms. The amendments will set a cap to the financial liabilities and a time limit mentioned in the contract within which the compensation can be claimed, Reuters mentioned.
"India needs nuclear power, which is clean and essential," Reuters quoted Debasish Mishra, chief growth officer at Deloitte South Asia.
"A liability cap will allay the major concern of the suppliers of nuclear reactors."
The amendments added incentives for U.S. firms like General Electric Co. and Westinghouse Electric Co. which have been avoiding India's market due to risks of unlimited liability. This will also likely enhance the U.S.-India trade bilateral trade to $500 billion by 2030 from $191 billion last year, according to Reuters.
The draft is likely to be presented during the Parliament라이브 바카라 monsoon session which begins in July.
Civil Nuclear Liability for Nuclear Damage Act in 2010 was put into effect after the Bhopal Gas Tragedy in 1984 at a factory owned by U.S. multinational Union Carbide Corp, which killed at least 5000 people.
Union Carbide paid an out-of-court settlement of $470 million in damages in 1989.