By Yogesh Joshi
Four years after a historic nuclear deal was signed, many in American policy circles deride the agreement as a failure. They're wrong.
The 2008 Indo-U.S. Civilian Nuclear Agreement was supposed to mark a watershed moment for India – U.S. relations, ending the two democracies long-standing estrangement and ushering in a new era where New Delhi and Washington would be “indispensable partners.” But four years after the deal came into effect, much of the initial enthusiasm that it engendered has dissipated. Especially in American foreign policy circles, many feel that the nuclear agreement has failed to meet expectations.
From India's perspective, nuclear cooperation was a sine quo none for any meaningful growth in India-U.S. ties in other areas. That being said, there was also a genuine expectation in the U.S. that assimilating India into the nuclear mainstream would reap enormous economic, political and strategic dividends for the country. However, many of the deal’s strongest proponents at the time of its signing now claim that these gains failed to materialize.
Economically, the U.S. was attracted to the vast potential India’s large and growing nuclear energy market had for domestic nuclear firms. This viewpoint failed to take into account India’s domestic nuclear liability law, which obliges nuclear suppliers to be liable for damages their equipment results in. Many U.S. companies have balked at this requirement, and the economic gains of the deal have failed to materialize accordingly.
Read the full story at The Diplomat