N-deal sealed; Pranab, Rice sign 123 agreement

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Washington, Oct 11 : India and the US on Saturday sealed the nuclear deal even as New Delhi said it was bound only by the “agreed text” of the 123 Agreement. External affairs minister Pranab Mukherjee and US secretary of state Condoleezza Rice signed the bilateral civilian nuclear cooperation agreement, which paves the way for the entry of American companies into the Indian nuclear market.

Noting that the agreement reflects a “careful balance of rights and obligations”, Mukherjee said, “Its provisions are now legally binding on both sides once the agreement enters into force.” The US had earlier said the contents of the 123 Agreement were a political commitment and not legally binding, triggering concerns in India over aspects like promises on nuclear fuel assurances.

Rice described the agreement as “unprecedented” and said it demonstrated the vast potential partnership between India and the United States. “The world’s largest democracy and the world’s oldest democracy joined together by our shared values and increasingly by many shared interests now stand as equals closer together than ever before,” she said.

Asked whether he was rejecting the Congressional intent in the resolution of approval by insisting that India was bound only the text of the 123 Agreement, Mukherjee said, “I am aware of the procedure followed by US Congress in the legislation. Every country has its own process of legislation as we have.” He also hoped that India will be soon completing procedures on the issue of liabilities and maintained that the text of the agreement took care of fuel supply assurances. By reinforcing and increasing the nuclear element in the country’s energy mix, which is vital to sustain India’s growth rate, nuclear power will boost industrial growth, rural development and help expand every vital sector of the country’s economy, he said.

Praising Rice, President Bush, Indian Prime Minister Manmohan Singh and the Indian-American community for making the agreement a reality, Mukherjee said New Delhi looks forward to working with Washington in other fields as well, including combating terrorism, containing and fighting pandemics and climate change.

In her remarks, Rice said, “Today we look to the future, a shared future. Let us use the partnership to fight against terrorism; to try a new socialist agenda for the 21st century.”