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This story is from September 26, 2007
India's economic performance not dependent on nuke deal: FM
Finance Minister P Chidambaram has said that India's economic performance did not hinge on 123 Agreement going forward, but it was in country's interest.
WASHINGTON: India's economic performance did not hinge on the Indo-US nuclear deal going forward, but it was in its "self-interest" to raise the share of atomic power, Union Finance Minister P Chidambaram said.
"I don't think it (the deal) has a direct impact on India's economic performance. We will have access to nuclear fuel, fuel for our nuclear reactors.Restrictions on some dual use items will be removed. So in that sense there are spin-offs to the Indo-US nuclear agreement," he told reporters.
"We need to raise our share of nuclear power from the current level of three per cent to ten per cent -- Japan has something like 30 to 40 per cent of its electricity coming from nuclear power; France has something like 70 per cent or more," Chidambaram said.
He said many countries are re-thinking their policy and becoming more supportive of nuclear power than before.
"President (George W) Bush yesterday (Monday) said that nuclear power is one way of promoting positive action on climate change," the Minister noted.
"I think we must realise that it is in our self-interest to acquire greater capacity to produce nuclear power," Chidambaram added.
"I don't think it (the deal) has a direct impact on India's economic performance. We will have access to nuclear fuel, fuel for our nuclear reactors.Restrictions on some dual use items will be removed. So in that sense there are spin-offs to the Indo-US nuclear agreement," he told reporters.
"We need to raise our share of nuclear power from the current level of three per cent to ten per cent -- Japan has something like 30 to 40 per cent of its electricity coming from nuclear power; France has something like 70 per cent or more," Chidambaram said.
He said many countries are re-thinking their policy and becoming more supportive of nuclear power than before.
"President (George W) Bush yesterday (Monday) said that nuclear power is one way of promoting positive action on climate change," the Minister noted.
"I think we must realise that it is in our self-interest to acquire greater capacity to produce nuclear power," Chidambaram added.
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