BackIndia, Canada ink deal to resume civil nuclear trade
Move will end penalty Canada imposed in 1976 after India exploded nuclear bomb in 1974
Premium(Reuters )
New Delhi: India and Canada on Tuesday reached an agreement to resume trade in nuclear materials and technology, enabling Canadian companies to sell nuclear reactors to India and export uranium for the first time in four decades.
The sale of atomic power plants and technology will end a penalty Canada imposed on India in 1976, after India conducted a nuclear test in 1974. Prime Ministers Manmohan Singh of India and Stephen Harper of Canada “underscored the considerable potential for mutually-beneficial civil nuclear cooperation, based on the early implementation of the 2010 Bilateral Agreement of Cooperation on Peaceful Uses of Nuclear Energy", said a joint statement issued after talks between the two leaders.
“They also recognized that Canada, with its large and high-quality reserves of uranium, could become an important supplier to India’s nuclear power programme. In this context, they welcomed the conclusion of negotiations on appropriate arrangement and looked forward to its early entry into effect, as well as to the inaugural meeting of the joint committee created under the agreement," it said.
The agreement follows an initial cooperation pact signed in 2010 during Singh’s visit to Toronto. Canada is one of the countries with the largest reserves of uranium that India needs to power its atomic plants.
“Being able to resolve these issues and move forward is, we believe, a really important economic opportunity for an important Canadian industry, part of the energy industry, that should pay dividends in terms of jobs and growth for Canadians down the road," Harper told reporters ahead of his meeting with Singh in New Delhi, according to Reuters.
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