US terms India's plan to sign CSC as "positive"
India's willingness to sign Convention on Supplementary Compensation (CSC) on nuclear damages was today welcomed by American officials who said this will allow their companies to do nuclear commerce with India.delhi Updated: Nov 01, 2010 19:17 IST
India's willingness to sign Convention on Supplementary Compensation (CSC) on nuclear damages was on Monday welcomed by American officials who said this will allow their companies to do nuclear commerce with India.
Reacting to India signaling that it was ready to sign CSC ahead of US President Barack Obama's visit early next month, American officials said "signing up to CSC is a very positive step, if and when it happens. That will then allow the companies to begin commercial negotiations required for fulfill the promise of the (nuclear) deal."
The Indian move is seen as an effort towards allaying concerns of American companies on account of the newly-enacted Nuclear Liability law by Parliament.
The officials also said that coming to international stream (in nuclear field) and adopting international standards was routine but very complicated.
"No one had any illusions that the steps that are required are many and we move through almost all of them and we are very close to the other side (for India to get clean energy)......," they said adding the "last piece" was for individual companies to start negotiations to look at their liability factor and start negotiations.
According to Indian officials, India has also told the US that it is ready to sign the CSC on nuclear damages.
While talking about the various bilateral issues to figure during Obama's three-day visit, one of the longest overseas trips by him, the officials said they expect to hear about the impact of changes in US policy of H1B visa, outsourcing regulations and market access but downplayed the "frictions" on these issues.
They said these "frictions" were normal whenever their was increasing economic cooperation between any two countries and should not be "over-emphasised" by attaching it with protectionism.
"We will find ways to take care of some of these issues," they said.
Hailing India as a growing economic power with the rise of the middle class, the officials also noted that the trade between the two countries was to touch record level of $ 50 billion and said trade ties were in a "pretty good shape".
They said the US was always supportive of India playing a bigger role and believes that it should play a central role in any international architecture to reflect the 21st century realities.
First Published: Oct 25, 2010 18:52 IST