The Indian budget every year has always been an eagerly awaited event. For many decades, the best minds in economics, finance, tax, business and industry throng the media house to analyze the provisions shared by the Financial Minister.
Sometimes major events completely disconnected may be data points for the plans of the different powers around the world. The challenge is to discern what purpose they serve? More critically, what are we moving towards?
When the US Ambassador threatened India's "Strategic Autonomy" policy over India's friendship with Russia - much more than meets the eye was at stake. Let us unpack how the Ukraine war has fundamentally changed the US and the world. And why are we here anyway?
India is working with a French company to set up a Nuclear Power reactor. India is close to an agreement with the French company Areva on a contract for Areva to build a nuclear power station on the west coast of India. The project is for two European pressurized reactors (EPR) at Jaitapur 400 kilometres (250 miles) south of Mumbai.
The Indian Foreign Minister Salman Khurshid said this in an interview with Le Figaro newspaper.
Although the minister – or the Indian Government – is saying that appropriate measures are being taken for safety, it is still a fairly risky venture. Specially when it is just 250 miles from a major city like Mumbai!
“We have to settle the questions of safety raised by the tsunami in Japan and this has an effect on the unit price of energy produced,” he said. This was being studied by experts but “a final agreement is within reach,” he said. (link)
There have been a lot of issues with this deal. One, being the clause where the onus of the accident was on the Supplier. It is not clear whether that has been resolved or by-passed?
Commenting on the Act, which has been opposed by all companies vying for business in India because of a clause that puts the onus of an accident on suppliers, the sources said Areva’s basic principle was to abide by the law of the land and at the same time ensure that the company’s interests were protected. But as the Rules have not entered into force, there is uncertainty about how it will all end up. In addition, the Supreme Court is hearing a petition on safety in civil nuclear plants. “But this question is not for us to solve,” they said. (link)
The other is that there have been a lot of protests on the deal and have led to even deaths in the police firing.
The second issue facing the French company are mass protests in and around Jaitapur that has led to the loss of a life in police firing. Unlike the Russians, who suspected a foreign hand in protests at their site in Kudankulam, the French are taking the protests at Jaitapur in their stride.
Apart from that there are other issues with the sourcing of the parts which may be resolved by going to the South Koreans instead of the Japanese. But the whole deal is a fairly dicey one.
One wonders if India has really utilized the Solar and the Wind energy as efficiently as it could, before going for the Nuclear option?
A lighthouse currently exists the proposed site of a nuclear power station near Jaitapui
The Indian budget every year has always been an eagerly awaited event. For many decades, the best minds in economics, finance, tax, business and industry throng the media house to analyze the provisions shared by the Financial Minister.
When the US Ambassador threatened India's "Strategic Autonomy" policy over India's friendship with Russia - much more than meets the eye was at stake. Let us unpack how the Ukraine war has fundamentally changed the US and the world. And why are we here anyway?
This visit of India left me with many questions. Many observations and inputs from different people and sections. Food for thought that I have tried to contemplate on and make sense of. Sharing all that with you.
When you analyze the last 60 years of the economic miracles of Singapore, South Korea and Malaysia versus the continued impoverished Indian economy, you get very interesting lessons. Can Indians have the wherewithal in them to do in one generation so that the coming generations may rise?
Every Sunday AM (US Time)/ PM (India time), we send out a weekly detailed newsletter. We also share other insightful notes during the week. Its free. Do sign up and share with friends!