Obama's visit and the much-hyped nuclear deal

Exploiting fully the servile attitude of this Modi government, being offered on a platter, US President Barack Obama, on his recent State visit to India as the guest of our 66th Republic Day Parade, got what he wanted from India to rejuvenate the beleaguered US economy. The Left parties opposition to the Indo-US nuclear deal and the subsequent developments which led to the withdrawal of the support from the UPA-I government were based on very serious apprehensions concerning the consequences of this deal. These relate to pressures to transform the Indian independent foreign policy positions towards those of a subordinate US ally; forcing India to further open up its economy to the profit maximisation of US corporations and India being drawn into USA’s strategic and military network as a steadfast accomplice. The Modi government has reportedly gone ahead to permit the circumvention of US manufactured nuclear reactors’ liability in the case of a nuclear accident. Reports indicate that Section 17(b) of the Act will be interpreted in the Rules to enable the Indian State-owned insurance corporations to offer a cover of Rs750 crores to cover supplier’s liability, while a government back-up will extend this to Rs1,500 crores. India will pay the premium for such an insurance policy to the foreign suppliers. 

There is also euphoria over the fact that President Obama has pledged $4 billion to India in loans and investments that could unlock what he called the “much untapped potential” of business partnership between the two countries. See what this $4 billion consists of. The US export-import bank will finance $1 billion worth of exports of US products to India. US overseas private investment corporation will lend $1 billion to small, medium size enterprises in rural India to buy US technologies. The US Trade and Development Agency would leverage $2 billion for renewable energy, ie, purchase of new US technologies by India. In other words, this so-called $4 billion 'India Package’ is to promote US imports into India! 
—Peoples Democracy

The President of the United States of America, Barack Obama’s visit to India as chief guest for the Republic Day ceremony witnessed a significant breakthrough in the bilateral relations of both the countries. One of the major reasons to cheer about the recent visit is the clearance of the roadblocks of the civil nuclear deal which was signed in 2008. It has paved the way for the green energy in this country which is suffering from chronic energy shortage. According to International Energy Agency (IEA), India’s per capita energy consumption is one-third of the global average. Renewable energy and nuclear energy comprise only 2 per cent and 3 per cent respectively and the rest is contributed by fossil fuels and hydroelectricity. 

US has waived off the condition related to tracking of the nuclear equipment supplied to India and now International Atomic Energy Agency (IAEA) will carry out the inspection on a periodic basis. A pool of Rs1,500 crores will be created to meet any liability arising out of accidents and thus protection of our citizen has also been ensured. All the nuclear plants are operated by NPCI (Nuclear Power Corporation of India) and the liability clause says that in the event of disaster only the suppliers are liable which was discouraging the commercial cooperation. Now a pool will be created for which 50 per cent shall be contributed by the central government and the remaining amount shall be insured by the national insurance companies. It must be noted that the NPCI can still seek compensation from the suppliers in case the damage is due to faulty equipment and therefore the allegations of India subordinating to the US pressure are ill informed.
India is committed to reduce the green house emission and nuclear energy is also a source of clean energy which will help to reduce carbon emissions. In the changed regime we should look forward to take this natural friendship to a new level and expand our ties in other areas also.
—Organiser