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Home Industry Sectors

NPCIL-Westinghouse to build six nuke reactors in India

Fiinews by Fiinews
February 26, 2020
in Industry Sectors, Investment, Projects, Technology
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Modi and Trump issuing the Joint Press Statement in New Delhi on 25 Feb 2020.

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ISRO-NASA joint mission in 2022

The Nuclear Power Corporation of India Limited and Westinghouse Electric Company are to finalize the techno-commercial offer for the construction of six nuclear reactors in India at the earliest date.

This is part of the India-US Comprehensive Global Strategic Partnership, said a joint statement issued after The President of the United States of America, Donald J. Trump, paid a State Visit to India on 24-25 February 2020, at the invitation of Prime Minister Narendra Modi.

The two leaders vowed to strengthen a India-U.S. Comprehensive Global Strategic Partnership, anchored in mutual trust, shared interests, goodwill and robust engagement of their citizens.

Modi and Trump pledged to deepen defence and security cooperation, especially through greater maritime and space domain awareness and information sharing; joint cooperation; exchange of military liaison personnel; advanced training and expanded exercises between all services and special forces; closer collaboration on co-development and co-production of advanced defence components, equipment and platforms; and partnership between their defence industries.

Noting that a strong and capable Indian military supports peace, stability, and a rules-based order in the Indo-Pacific, and reaffirming his pledge to support the transfer to India of advanced US military technology, President Trump welcomed India’s recent decision to procure MH-60R naval and AH-64E Apache helicopters.

These capabilities will advance shared security interests, job growth and industrial cooperation between both countries. As India works to acquire new defence capabilities, President Trump reaffirmed India’s status as a Major Defense Partner affording it the highest consideration for procurement and technology transfer purposes.

The leaders looked forward to early conclusion of defence cooperation enabling agreements including Basic Exchange and Cooperation Agreement.

Modi and Trump recognized the increasing importance of the trade and investment dimension of the India-United States relationship, and the need for long-term trade stability that will benefit both the American and Indian economies.

They agreed to promptly conclude the ongoing negotiations, which they hope can become phase one of a comprehensive bilateral trade agreement that reflects the true ambition and full potential of the bilateral commercial relations, advancing prosperity, investment, and job creation in both countries.

Both leaders welcomed growing links between India and the United States in trade and investment in hydrocarbons. Through their Strategic Energy Partnership, India and the United States are seeking to enhance energy security, expand energy and innovation linkages across respective energy sectors, bolster strategic alignment, and facilitate increased engagement between industry and other stakeholders.

Prime Minister Modi and President Trump noted the potential for the US to meet India’s goal to diversify its import base for coking, metallurgical coal and natural gas, welcoming recent commercial arrangements intended to accelerate access to LNG in the Indian market.

Prime Minister Modi and President Trump expressed satisfaction with their longstanding and practical collaboration in science, technology and innovation.

They welcomed an endeavour by Indian Space Research Organization (ISRO) and National Aeronautics and Space Administration (NASA) for development and launch in 2022 of a joint mission with the world’s first dual-frequency Synthetic Aperture Radar satellite, and applauded discussions that advance cooperation in Earth observation, Mars and planetary exploration, heliophysics, human spaceflight, and commercial space cooperation.

Prime Minister Modi and President Trump expressed their desire to increase higher education collaboration and educational exchange opportunities, including through the “Young Innovators” internships, and welcomed the recent growth in the number of Indian students in the United States.

Strategic Convergence in the Indo-Pacific

Modi and Trump welcomed the US International Development Finance Corporation (DFC) announcement of a US$600 million financing facility for renewable energy projects in India, and the DFC’s decision to establish a permanent presence in India this year.

Taking note of their countries’ shared commitment to advancing effective development solutions in the Indo-Pacific and globally, Prime Minister Modi and President Trump look forward to a new partnership between USAID and India’s Development Partnership Administration for cooperation in third countries.

Trump reaffirmed the support of the United States for India’s permanent membership on a reformed U.N. Security Council. He also reaffirmed U.S. support for India’s entry to the Nuclear Suppliers Group without any delay.

Prime Minister Modi and President Trump expressed interest in the concept of the Blue Dot Network, a multi-stakeholder initiative that will bring governments, the private sector, and civil society together to promote high-quality trusted standards for global infrastructure development. fiinews.com

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