India and the US today sealed an "unprecedented" nuclear deal as New Delhi said it was bound only by the "agreed text" of the 123 Agreement, reversing 34 years of nuclear isolation of the fast-growing Asian power through culmination of a tortuous process initiated in 2005.
External Affairs Minister Pranab Mukherjee and Secretary of State Condoleezza Rice signed the bilateral civilian nuclear cooperation agreement at an impressive ceremony held at the Benjamin Franklin Room of the State Department.
"Both India and the US Administration have now completed all our internal procedures to be able to sign this path breaking agreement,"
Mukherjee said after signing the agreement, paving the way for entry of American companies into the Indian nuclear market after over three decades.
Noting that the agreement reflects a "careful balance of rights and obligations," he said, "its provisions are now legally binding on both sides once the agreement enters into force.”
This comment assumes significance since the US had said the contents of the 123 Agreement were a political commitment and not legally binding, triggering concerns in India over aspects like promises on nuclear fuel assurances.
Describing the 123 Agreement as "unprecedented", Rice said it demonstrated the vast potential partnership between India and the United States.
"The world's largest democracy and the world's oldest democracy joined together by our shared values and increasingly by many shared interests now stand as equals closer together than ever before," she said.
After putting the final seal on the agreement with the US, Mukherjee told reporters that India was bound only by the "agreed text" of the 123 Agreement.
