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India –US nuke deal could produce some $27 billion investment in 18 to 20 Indian nuclear plants over the next 15 years
The deal could produce some $27 billion in investment in 18 to 20 nuclear plants in India over the next 15 years, according to the Confederation of Indian Industry. U.S., French, Russian and other companies are expected to compete for the business.
The accord, reached after years of tortuous negotiations and harshly criticized by non-proliferation advocates, was signed by U.S. Secretary of State Condoleezza Rice and Indian External Affairs Minister Pranab Mukherjee.
The Bush administration believes the agreement will secure a strategic partnership with the world's largest democracy, help India meet its rising energy demand in an environmentally sound way and open up a civil nuclear market worth billions.
At a State Department ceremony, Rice said the agreement "demonstrates the vast potential partnership between India and the United States -- potential that, frankly, has gone unfulfilled for too many decades of mistrust."
She also noted the efforts that were needed to secure approval for the deal in both countries, referring to the fact that the government of Indian Prime Minister Manmohan Singh nearly collapsed over the issue.
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