India signs convention on nuclear damages
27 Oct 2010
India today signed the Convention on Supplementary Compensation (CSC) in Vienna under which it will be able to seek compensation in case of transnational implications of a nuclear accident.
The international convention has been signed by 14 countries, including India.
However, the convention has been ratified by only four countries - the US, Argentina, Morocco and Romania - so far.
The CSC provides for the establishment of an international fund to hike the compensation amount available to victims and also allows for compensating civil damage within a state's exclusive economic zone, including loss of tourism or fisheries related income.
According to analysts, the development is a significant step, which will allow India to engage in nuclear commerce.
The convention seeks to establish a uniform global legal regime for compensation to victims in the unlikely event of a nuclear accident.
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