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Obama & India link GEH

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    Obama visit gives lift to U.S.-India deal on nuclear reactors



    By Jim Brumm
    [email protected]
    Published: Saturday, January 31, 2015 at 2:00 p.m.

    Last Modified: Friday, January 30, 2015 at 10:05 p.m.

    Page 2 of 3

    Indian and U.S. officials said part of the solution to the liability impasse could be a $122 billion insurance scheme proposed by India.
    That would be funded by India's government and Indian nuclear companies and be managed by the state-run General Insurance Corp. of India, according to Indian nuclear negotiator Amandeep Gill.
    "If they agreed to limit U.S. industry liability, well how do they do that? You can agree in diplomatic terms, but what does that mean in a U.S. or an Indian court? It's unclear," Schneider said. He also said any insurance scheme would have to be in the order of hundreds of billions of dollars to make sense.
    "We look forward to reviewing the governmental agreement," GE Hitachi said in a statement.
    "As GE has stated previously, we believe a sustainable solution is one that brings India into compliance with the International Convention on Supplementary Compensation."
    Westinghouse said chief executive Danny Roderick expressed his support for the government efforts to resolve issues blocking U.S. participation in India's nuclear market.
 
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