Japan to supply India with nuclear technology

The Japanese government recently sealed a nuclear deal with India last Friday. Japanese Prime Minister Shinzo Abe and Indian counterpart Narendra Modi strengthened ties as Japan is to supply India with nuclear power equipment and technology.

The civil nuclear deal between the two countries, which took six years to settle, was highly significant since India was not part of the Nuclear Non-Proliferation Treaty (NPT). Therefore, Japan is compromising on its foreign policy principle where they were to prevent the further spread of nuclear technology being used for weapons.

Japan was the only country in history to have ever suffered a nuclear attack, when their cities Hiroshima and Nagasaki were bombed in 1945 during the World War 2.

However, it was in the agreement that the technology Japan will provide India will solely be for the use of India’s goal to reduce its greenhouse-gas emissions due to its growing economy. The nuclear fuel and equipment supplied can only be utilized for peaceful purposes. There was a specific clause in the agreement document which gives Japan the power to terminate the deal if India conducts a nuclear test.

The deal between the two countries follows a similar deal India made with the United States last 2008. This gave India access to nuclear technology after decades of isolation.

Another reason for the agreement between the two countries was to strengthen their economic and defense ties. This was due to the worries surfacing that a Trump presidency might mean that the US would retreat from its previous role of being a guarantor of having free trade and stability in Asia.

The agreement could actually benefit Japanese nuclear-component makers, which include Mitsubishi Heavy Industries Ltd. And Hitachi Ltd. Both companies currently face decreasing business prospects after the 2011 Fukushima disaster.

“It is vitally important for Japan and India to work hand in hand to lead Asia-Pacific and the world toward peace and prosperity,” Prime Minister Abe said.

Modi assured Japanese business leaders by saying that the 21st century is Asia’s century, further encouraging them to invest in India. “Strong India and Strong Japan will not only enrich our two nations, it will also be stabilizing factor in Asia and the world,” he added.

During Modi’s three-day visit to Japan, the Prime Minister rode the shinkansen high-speed railway in Tokyo to Kobe on Saturday, along with Japanese Prime Minister Abe. The two prime ministers also visited a plant manufacturing trains that Japan will be providing India.

The previous year, Modi and Abe already signed a deal worth $15 billion for Japan to build a high-speed rail link between Mumbai and Ahmedabad. The construction is expected to start in 2018 and set to finish by 2023.

So there we have it! Be enlightened with the latest news on forex, commodities, stocks, technology, and economy. Subscribe now! Trade12 Reviews waits for you.
Japan to supply India with nuclear technology Japan to supply India with nuclear technology Reviewed by Trade12 Reviews on 1:52 AM Rating: 5

No comments:

Powered by Blogger.