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Posted by on Jul 22, 2008 in At TMV | 2 comments

India-US Nuclear Deal: Nail-Biting Parliamentary Result

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Indian Prime Minister Manmohan Singh and US President George W. Bush have a reason to celebrate. In a way the triumphant nail-biting passage on Tuesday of the India-US Nuclear Deal in the Indian Parliament is their personal victory.

“The U.S. will urge other board members of the International Atomic Energy Agency to support an inspection plan tied to the accord during a meeting on Aug. 1,” State Department spokesman Gonzalo Gallegos said in Washington.

“The 2005 accord signed between Singh and Bush gives India access to fuel and nuclear reactors without joining the 1970 Nuclear Non-Proliferation Treaty. It would lift restrictions imposed on suppliers to provide India with atomic technologies since it tested a nuclear weapon in 1974 without being listed as an atomic weapons state.

“India can now seek the nuclear deal’s approval from the IAEA and the Nuclear Suppliers Group, a mandatory requirement before the U.S. Congress can ratify it. White House spokeswoman Dana Perino predicted approval in Congress should the plans succeed with the IAEA and the 45-nation suppliers group.” More here…

It was a tough battle for the Indian prime minister who staked his government’s survival on the parliamentary vote. And it was a close call. The Congress party-led government won with 275 lawmakers voting for it and 256 against. The number of abstentions was not immediately clear, although not all 543 members of Parliament’s lower house took part in the vote.

“The vote capped a week of intense politicking that saw the government rename an airport for a lawmaker’s father, promise a high-level job to another, and — rival politicians allege — hand out millions of dollars to many others in an effort to survive.” More here…

Although this landmark development is a major milestone in India-US economic and strategic relationship, nearly half the Indian lawmakers have opposed the deal in its present form. Meanwhile the ‘Marketing Guru of the World’ Dr. Jagdish Sheth, Professor of Marketing in the Goizueta Business School, Atlanta, USA, today asked India to look at issues in a “multi-centric” way instead of the present US-centric prism.

Sheth predicted that India and China, along with the United States, would form the “emerging geoeconomic triad” replacing the US-Canada, European Union and Japan triad. He said the 21st century would certainly belong to ‘Large Emerging Nations (LEN)’ as the 19th century belonged to America and 18th century to Europe. He said LEN would consist of India, China, Russia, Brazil and other emerging countries.

Author of the famous book ‘Chindia Rising: How China and India will benefit your business’, Dr Sheth predicted redefining of capitalism and democracy with compassionate capitalism, disciplined democracy and worldwide rise of spiritualism. More here…

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