With the government emerging victorious in the confidence motion, the country would be signing the civilian nuclear deal with the US which has the potential to significantly boost India's nuclear energy production, says a report by Moody's Economy.Com.
"Following two days of vigorous debate, India's lower house yesterday pushed through a government motion that should see the world's largest democracy sign a civilian nuclear energy agreement with the United States.
"Despite not having signed the nuclear non-proliferation treaty, the agreement could see India gain access to US civilian nuclear technology as well as end sanctions preventing purchases of American uranium," Moody's Economy.Com, an associate of global rating agency Moody's, said in a report today.
According to the report, the deal with the US has the potential to boost India's nuclear energy production which currently accounts for only three per cent of the electricity supply.
"... With the deal still having a long way to go before being formally signed by the nation's leaders and more political wrangling is likely. This means that Indians will do doubt have to wait some time before they see the benefits of the agreement in the form of greater, and more secure, energy production," Moody's Economy.Com's Associate Economist Nikhilesh Bhattacharyya said.
Noting that the deal has "probably passed its toughest test", the report pointed out that it remains important in securing the country's long-term "energy future."
No comments:
Post a Comment