India ratifies nuclear liability convention seeking foreign investment

India on Friday submitted the instrument of ratification of the Convention on Supplementary Compensation for Nuclear Damage to International Atomic Energy Agency, IAEA, which is depositary of the said Convention.

Ambassador and Permanent Representative of India Rajiva Misra handed over the instrument of ratification to acting Director General of IAEA Juan Carlos Lentijo.

The Convention is called as the Nuclear Liability Convention in common parlance.

Nuclear reactor makers have been reluctant to set up plants in India because of a 2010 liability law making equipment suppliers potentially accountable for accidents.

Since then, India has been trying to pacify the fears of the nuclear suppliers in order to boost the share of nuclear power from a mere 3 percent to 25 percent by 2050.