MUMBAI: Amidst India’s aggressive bid for entry into the elite NSG, Foreign Secretary S Jaishankar on Monday said a stronger Indian nuclear industry can help make nuclear power more competitive globally.
He said “large anticipated investments” in nuclear energy sector can only happen in a climate of “predictability”.
Delivering keynote address at the inauguration of the two-day ‘The Gateway of India Dialogue’ on ‘Where geopolitics meets business’ in Mumbai, he said India’s membership to Nuclear Suppliers Group can “effectively” address concerns regarding certainty of trading rules and technology access.
“We are in a position now to build on the international cooperation openings that have been negotiated in the last decade and confirmed by the settlement of the liability issue.
“The path is once again open to a substantial increase in domestically-produced nuclear power plants while simultaneously moving forward with foreign partners,” the Foreign Secretary said.
“These large anticipated investments in the nuclear energy sector can, however, only happen in a climate of predictability. In particular, it would require greater certainty of trading rules and technology access. It is our expectation that membership of the Nuclear Suppliers Group can effectively address that concern. A stronger Indian nuclear industry can help make nuclear power more competitive globally,” Mr Jaishankar said.
While the US has been pushing for India’s NSG membership, China has been opposing it.
“Indeed, as our own nuclear industry expands and we go rapidly beyond the 140 nuclear-related export licences that we issued last year, it’s also in larger interest that our practices are in conformity with global ones,” he said.
He said the Ministry of External Affairs is pleased to support this event, which has been organised by the Gateway House and MEA.