Civil nuclear projects will be subject to Indian law: National Security Advisor.

20092013

 

 

Ahead of the Indian Prime Minister visit to the U.S., National Security Advisor Mr. Shivshankar Menon speaks on New Delhi perspective on bilateral trade, the civil nuclear agreement and regional security at the Aspen Institute India (AII) session on India & the U.S.

New Delhi, September 20, 2013: All civil nuclear projects in the country would be subject to Indian law,National Security Advisor Mr. Shivshankar Menon asserted while addressing the༢>Aspen Institute India session on ቮdia and the U.S. earlier today. Mr Menon also revealed that the two nations were ᣬose to finalising the commercial aspects of the civil nuclear deal.

Moderated byMr. Gautam Thapar, Chairman, Aspen Institute India, the session–aimed to be a precursor to Indian Prime Minister Dr. Manmohan SinghⳠmeeting with U.S. President Barack Obama糡w Mr. Menon share IndiaⳠperspective on a wide range of bilateral issues.

Underscoring the country pressing energy needs, the National Security Advisor said,be civil nuclear agreement is a significant part of our strategy to meet long term power demand in India, which is expected to grow four times over in the next two decades. It has been our consistent stand that the power plant should meet the highest standards of safety delivering power at a price that is competitive vis-a-vis other sources of energy. I was surprised in the last few days to see several stories claiming that somehow Indian law would not apply to projects in India. Civil nuclear projects in India will naturally be subject to Indian law, including civil liability. Domestic and foreign vendors have sought clarifications on some points of that law, which are being examined.

Reflecting on the growing India-U.S. ties,Mr. Menon opined,༩>㗥 have a growing dialogue and partnership on non-proliferation, export controls and nuclear issues.༯i>Some of our most innovative and rewarding partnerships are in the inter-linked domains of energy, health, higher education and science and technology. He added, total trade in goods and services exceeds 100 billion dollars. It has grown every year through the past five years of a global economic crisis. We might each have reasons not to be fully satisfied with our economic relations but no one denies its potential and significance. The US is our single largest trading partner and is a source of critical technology, investment, and collaborations, with over $ 11 billion worth of Indian investments in the US, and $ 50 billion of US investment in India.

At present, bilateral economic relations have expanded beyond the nuclear deal to shape a new Bilateral Investment Treaty (BIT). According to estimates, annual bilateral trade between the two nations has grown nearly five-fold in the last decade, with nearly 50 per cent growth registered during the Obama administration. Owing to closer and stronger business ties, the annual two-way trade is nearly USD 100 billion, while the bilateral foreign direct investment stands at nearly USD 30 billion.ࠂuilding on these highs, experts feel the need of the hour now is for the US to facilitate the expanding canvas of trade and foster the growth of Indian investments.

Highlighting the global political and financial turbulences in the recent past,༢>Mr. Menon emphasised that there was immense potential for growth in the India-U.S. relationship.༩>ㅣonomically, as we go forward we will focus on opportunities, especially in the infrastructure sector; improve market access; negotiate a Bilateral Investment Treaty; pursue constructive solutions in the WTO that addresses our key concerns; and, work to strengthen the global multilateral trade regime, avoiding its fragmentation or the growth of protectionism. There are also avenues to be explored in the areas of energy, defence, education, and in the quality and range of the strategic dialogues that we undertake,he said.

On the geopolitical front, India is emerging as a key strategic partner to the US Pivot to Asia trategy as Washington begins phasing down troops from Afghanistan. While India is wary of the ensuing fallout of this move, there is a fast-gaining recognition in the US on the critical role New Delhi can play anchoring stability in South Asia.

Responding to a query on this issue,Mr Menon said,I have had attacks on our missions in Afghanistan for some time. Yet, we want to assist the Afghanistan authorities to do what they want, which is, establish peace and stability in the region. So, we will continue to work with the government and the people of Afghanistan. There is no endgame for India in Afghanistan.

In the last few months, several top-level visits have been facilitated between India and the U.S., signifying the vibrancy of bilateral ties. US Vice-President Joe Biden’s visit in June earlier this year addressed some key outstanding issues gnawing the two sides, and instilled confidence among the lawmakers and the investors. The proposed visit of the Indian Prime Minister to the U.S. has hence elicited hopes of taking the ties to greater heights while simultaneously resolving contentious issues.

About Aspen Institute India (AII)

Aspen Institute India promotes values-based leadership, open dialogue and cross-sector outreach by engaging the civil society, government, private sector, and other key stakeholders on issues related to India development. It invites industrial, economic, financial, political, social and cultural leaders to discuss these issues in settings that encourage frank and open dialogue.

Samarth Pathak
Program Executive (Communications)
Aspen Institute India
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Email: Samarth.pathak@aspenindia.org