India-EU Sign Civil Nuclear Pact
India and the European Union have signed an agreement pertaining to civil nuclear cooperation between the two countries. The agreement, signed between the European Atomic Energy Committee and Indian authority, will focus on collaborating to explore new ways to utilize nuclear energy.
Why Civil Nuclear Agreement?
Civil nuclear agreements are mainly for the purpose of collaboration between the parties for the peaceful use of nuclear energy. It is all the more important for India since India has to fulfil most of its energy needs from conventional sources and 72% of that is also imported. Our country has to look for alternate sources of energy. Nuclear power can fill that void and also India can utilize its large thorium reserves for generating nuclear energy. France was the first country to sign such an agreement with India in 2008 and it was followed by the USA and Russia. Mongolia, Canada, Czech Republic, South Korea, Australia also have similar agreements with India.
Background of India-EU civil nuclear deal
The negotiation for a civil nuclear deal with the 27-bloc European Bloc started in 2007 and it took around 13 years for India to finally enter an agreement with the EU. This deal will focus on research and development related cooperation in the field of nuclear energy.
Month: Current Affairs - July, 2020
Category: Economy & Banking Current Affairs