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India, South Korea nuclear pact soon

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India, South Korea nuclear pact soon


India is expected to ink a civil nuclear pact with South Korea soon, knowledgeable sources said on Thursday. "It is just a matter of dotting the i's and crossing the t's," said a key source on the margins of the G20 Summit, where the Indian delegation is led by Prime Minister mohan Singh.

National Security Advisor Shivshankar Menon had told reporters in Hanoi last month that the text of the agreement had been virtually finalised.

"It now awaits signature," he said after the meeting between Manmohan Singh and South Korean President Lee Myung-bak during the ASEAN Summit.

The sources said some "minor issues" remained to be resolved.

South Korea is the sixth largest exporter in the area of nuclear commerce. Its state-run Korea Electric Power Corp signed a pact with the public sector Nuclear Power Corp of India in August for cooperation on technical matters and data exchange.

In June, Canada, which had led India's nuclear isolation in the mid 1970s and late 1990s, became the ninth country with which India has a peacetime atomic energy pact.:azn:

The other countries are the US, France, Russia, Mongolia, Kazakhstan, Argentina, Namibia and Britain.

According to official data, India currently has 19 nuclear reactors at six locations, all operated by the state-run Nuclear Power Corp of India, with a capacity to produce 4,560 MW of electricity.

The plan is to quadruple this capacity to 21,180 MW by 2020, taking the share of nuclear energy in India's total installed electricity-generation capacity of around 150,000 MW, from around 3 percent to a little over 10 per cent.


India, South Korea nuclear pact soon - Hindustan Times

:cheers::cheers::cheers:
 
India-South Korea economic ties booming: ambassador

Seoul, Nov 11 (IANS) India's bilateral trade with South Korea is expected to grow 50-55 percent this year and touch $17 billion, even as the comprehensive economic pact is giving renewed thrust to their blossoming ties, Indian Ambassador here Skand R. Tayal said Thursday.

The presence of South Korean President Lee Myung-bak as the chief guest at the Indian Independence Day this year, and the operationalisation of the bilateral Comprehensive Economic Partnership Agreement have also contributed tremendously, Tayal told reporters.

'Even culturally, the ties are growing stronger. South Korea is celebrating the 'Year of India' and India is celebrating 'Year of South Korea' next year. A Korea Centre is also coming up in India, just as an Indian Centre is being established here.'

In business, the ambassador said, it was not that only South Korean companies were investing in India. There were some large investments by Indian companies here as well, such as the $100 million takeover of commercial vehicles division of the ailing Daewoo by Tata Motors.

This apart, the Aditya Birla Group has acquired Alcan Taihan Aluminium for $600 million in 2005; and a couple of months ago Mahindra and Mahindra signed a pact to buy stake in Ssangyong Motor Company, South Korea's smallest automaker, known for its sports utility vehicle.

Large conglomerates such as LG and Samsung have become household names in India and there was active interest in investing in India's infrastructure space, which New Delhi says has an appetite for $1 trillion worth of investment over the next seven-eight years.


India-South Korea economic ties booming: ambassador
 

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