In a bid to boost the Indo-US bilateral ties, US President Barack Obama along with Indian Prime Minister Narendra Modi on Sunday unveiled the plans to unbolt the billions of dollars in civil nuclear trade and to improve the defense ties.
Hoping to develop an enduring strategic partnership, the two nations reached an understanding level over two serious issues that despite a groundbreaking agreement in 2006, the impasse over nuclear deal had barred US companies from setting up reactors in the Asian country and had transformed into one of the biggest irritants in the bilateral ties.
While addressing a joint news conference with Modi, Obama said, “We are committed to moving towards full implementation. This is an important step that shows how we can work together to elevate our relationship.”
The new agreement has resolved the underlying differences between both the countries over the liability of suppliers to India in the event of any nuclear-related untoward incident and the demands of the United States on monitoring the whereabouts of the supplied material to the Asian country, U.S. ambassador to India Richard Verma told reporters.
“Ultimately it’s up to the companies to go forward, but the two governments came to an understanding,” Verma said.
Obama, who is on a visit to India with US first lady Michelle in order to bolster US-India relations, chalked out a 10-year framework along with the Indian Prime Minister for boosting the defense relations and deals on cooperation, including the joint production of equipment for C-130 military transport plane by Lockheed Martin Corp and the drone aircraft.
The favorable economic conditions in India in the recent times have made the United States to view the country as a vast market as well as potential counterweight in Asia to China.