France hopes to sign India's first nuclear trade deal

16 September 2008

Mumbai: France will soon enter into a bilateral agreement on nuclear trade with India following the Nuclear Suppliers Group's waiver for conducting nuclear commerce with this country.

The NSG waiver ''opens the way for signing of the bilateral agreement, which was finalised during the visit of President Sarkozy in January,'' French minister of state for external trade Anne Marie Idrac said after an Indo-French Joint Committee meeting in New Delhi.

She said France wants to be a key partner for India in the area of nuclear energy and hopes to be the first country to conduct nuclear business with India once both countries sign the previously agreed text for bilateral civil nuclear cooperation, probably by the end of the month, during Indian prime minister Manmohan Singh's visit to Paris.

With both New Delhi and Paris signing a bilateral treaty, they won't have to wait for the ratification of the civilian nuclear agreement between India and the United States, which is now before the US Congress.

Even if the US Congress doesn't pass the deal,  India  and France will conduct nuclear trade.

It is also likely that Russia, which is setting up four nuclear power plants in the country, may also soon sign a bilateral treaty with India on nuclear trade.