India Takes the Next Step in Forming Its Nuclear Liability Framework
By Sanjay J. Mullick, Elina Teplinsky, James A. Glasgow, Stephen B. Huttler and Moushami P. Joshi (Attorneys at Pillsbury Winthrop Shaw Pittman LLP)

On February 4, 2016, India submitted to the International Atomic Energy Agency (IAEA) its Instrument of Ratification of the Convention on Supplementary Compensation for Nuclear Damage (CSC). Under the applicable rules, the CSC will take effect for India 90 days after ratification, giving it access to the international nuclear liability damages pool. Ratification of the CSC, along with guidance on India’s nuclear liability law issued last year by the Ministry of External Affairs (MEA) and a nuclear insurance pool currently being formed by the General Insurance Corporation (GIC), constitute three pillars India has put in place to form its nuclear liability framework. The question is whether these will be enough to now open India’s nuclear market for business, particularly for U.S. suppliers.


 

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