Law lets US firms tap India's nuclear trade
WASHINGTON - President Bush yesterday signed into law a bill that reverses three decades of US policy and allows American businesses to enter India's multibillion-dollar nuclear market.
"It's a big deal," the president said at a ceremony in the East Room of the White House. He said the measure would build on the growing ties between the world's two largest democracies.
The signing of legislation approving US-Indian civilian nuclear cooperation is the result of three years of work by Indian officials and the Bush administration.
Opponents say it could spur a nuclear arms race in South Asia.
Secretary of State Condoleezza Rice and Indian External Affairs Minister Pranab Mukherjee are to sign the overall bilateral nuclear cooperation accord tomorrow.
It will eventually allow US businesses to begin selling nuclear fuel, technology and reactors to India in exchange for safeguards and UN inspections at India's civilian - but not military - nuclear plants.