Washington//New Delhi, April 12 (UNI) Taking forward the Kovvada nuclear power project in Andhra Pradesh with US assistance as well as reconvening the India-US Commercial Dialogue and the CEO Forum to boost economic ties, was discussed at the India-US 2+2 dialogue.
At the 2+2 meeting between Defence Minister Rajnath Singh and External Affairs Minister S Jaishankar, and their US counterparts Secretary of Defense Lloyd Austin and Secretary of State Antony Blinken, the two sides expressed satisfaction on the progress made on different collaborative initiatives under the India-U.S. Civil Nuclear Energy Working Group and the Global Centre for Nuclear Energy Partnership Joint Working Group.
The Ministers noted ongoing negotiations between the Nuclear Power Corporation of India Limited (NPCIL) and Westinghouse Electric Company (WEC) for the construction of six nuclear reactors in India. They welcomed progress through consultations between the U.S. Department of Energy and India’s Department of Atomic Energy for facilitating opportunities for WEC to develop a techno-commercial offer for the Kovvada nuclear project.
They also noted the ongoing discussion on developing next generation small modular reactor technologies in a collaborative mode for the domestic market as well as for export, a joint statement said. The Kovvada nuclear power plant was proposed in 2015. It is a six gigawatt Light Water Reactor plant in Ranasthalam block of Srikakulam district being set up by the Nuclear Power Corporation of India Limited, with the reactors provided by GE Westinghouse.
The project spans over 2,079.79 acres in seven villages lining the coast. Minister of State Jitendra Singh said in a written reply in the Rajya Sabha that the Centre has given in-principle approval for setting up six reactors of 1,208 MW each at Kovvada nuclear power plant in Andhra Pradesh’s Srikakulam. During the talks on Monday, the two sides also underlined the importance of strengthening the commercial and economic pillar of the India-U.S. partnership to advance economic growth and deliver mutual prosperity for both countries.
They applauded the rebound in bilateral trade between the two countries over the last year, surpassing $113 billion in goods. They welcomed the 12th Ministerial-level meeting of the India-U.S. Trade Policy Forum (TPF) and the renewal of Working Group discussions to expand bilateral trade, remove market access barriers, and improve ease of business. They looked forward to both sides developing action plans that identify and prioritize the resolution of specific trade concerns to build on the progress made during the last TPF Ministerial meeting.
They also reiterated the importance of a transparent and predictable business environment to facilitate private-sector investment, and looked forward to reconvening the India-U.S. Commercial Dialogue and the CEO Forum this year to enhance economic cooperation, boost commercial ties, and develop private-sector recommendations for both governments.
The Ministers reaffirmed the vital role of secure, resilient, reliable, and diverse supply chains for Critical and Emerging Technologies (CET), and the need to enable regional and global innovation.
The Ministers decided to put in place a framework to advance cooperation in CET such as advanced communication technology, artificial intelligence, quantum science, STEM, semi-conductors and biotechnology.
The Ministers noted the substantial progress in negotiations for an Investment Incentive Agreement (IIA) between the Governments of India and the United States, which provides a framework for the U.S. International Development Finance Corporation (DFC) to continue to expand its investment in India – for private sector-led projects in critical areas such as renewable energy, agriculture, healthcare, and SME financing. The Ministers encouraged negotiators to resolve remaining issues so that the IIA may be concluded as soon as possible, it said.
