You are here: Home » Economy & Policy » News
Business Standard

Modi-Obama bilateral talks on Sept 28

Both leaders likely to take stock of the progress made by the US companies in forging a commercial tie-up on the civil nuclear deal

Nayanima Basu  |  New Delhi 

Barack Obama, Narendra Modi
Prime Minister Narendra Modi and US President Barack Obama at a joint press conference at Hyderabad House in New Delhi.

Prime Minister Narendra Modi and US President Barack Obama will be holding their third bilateral summit on September 28 that will see both leaders taking economic and strategic engagement between the two countries to the next level encompassing all outstanding issues.

PM Modi, who will be visiting the US from September 24-30, will be holding the meeting with Obama in New York. Before that, Modi will visit the Silicon Valley on September 26-27. During the meeting, it is expected that both leaders will take stock of the progress made by the US companies in forging a commercial tie-up on the civil nuclear deal. During their last bilateral meeting in January, both sides had claimed reaching a "breakthrough" in the civil nuclear deal ending the six-year-old logjam.

It seems during the visit, General Electric and Westinghouse might announce setting up of their nuclear power plants in Gujarat and Madhya Pradesh.

The main bone of contention in the nuclear deal was the liability clause. It was later decided that an insurance pool would be set up lessening the exposure of foreign companies in the event of a nuclear accident. The Nuclear Power Corporation of India (NPCIL) would claim the insurance on behalf of the companies.

It is also expected that when both leaders meet, the US will push India to wrap up the talks on Bilateral Investment Treaty (BIT) that will seek to protect American investors in case of a dispute.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, August 13 2015. 00:34 IST