Sharing nuclear technology with India
Last night the Senate overwhelmingly passed a controversial deal to share civilian nuclear technology with India. The bill still has to get through the House, but business leaders are hailing it as a major victory. Miranda Kennedy explains.
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SCOTT JAGOW: The U.S. Senate overwhelmingly approved a deal to share civilian nuclear technology with India. The House still has to pass it, but business leaders in India are hailing this as a major victory. Miranda Kennedy reports from New Delhi.
MIRANDA KENNEDY: Big business has been lobbying hard for the bill. The defense industry stands to gain billions, because the bill acknowledges India's nuclear weapons for the first time, though India first developed weapons in 1998.
The nuclear power industry also has plenty to gain. If the bill becomes law, India will be able to buy U.S. nuclear fuel, reactors and related technology for the first time. That will help India address its massive energy needs, says U.S. ambassador to India David Mulford.
DAVID MULFORD: It does represent the realization of President Bush's vision to permit India to develop its civil nuclear industry, to help its economic growth and its emergence as a major world power.The bill could become law before the Senate reconvenes in January. Dozens of companies have already lined up. Next month, the government is leading the largest-ever U.S. trade mission to India.
In New Delhi, I'm Miranda Kennedy for Marketplace.
