India's National Security: Annual Review 2012 by Satish Kumar

Author:Satish Kumar [Kumar, Satish]
Language: eng
Format: epub
ISBN: 9780415844345
Google: 9_ELPwAACAAJ
Goodreads: 17269435
Publisher: Routledge Chapman & Hall
Published: 2013-06-27T00:00:00+00:00

Nuclear issues

According to media reports on 14 June 2015, the Union government launched an insurance pool of Rs. 1,500 crore, mandatory under the Civil Liability for Nuclear Damage Act (CLNDA 2010) to offset the financial burden on foreign nuclear suppliers in case of an accident. R. K. Sinha, secretary in the Department of Atomic Energy, said that the Rs. 1,500 crore pool was set up by the General Insurance Corporation of India and eleven other non-life insurers from public and private sector. The policies offered would be a nuclear operators’ liability insurance policy and a nuclear suppliers’ special contingency (against right to recourse) insurance policy.43 With the launch, India joined an exclusive list of countries having nuclear pools, making the Indian Nuclear Insurance Pool the 27th nuclear insurance pool in the world managing nuclear liabilities.44

The Times of India on 20 July 2015 reported that India started working on creating a ‘strategic uranium reserve’ to ensure its atomic power reactors do not face a shortage of the crucial nuclear fuel. A senior official commented that the reserve pool could be anywhere between 5,000 MT and 15,000 MT, which could last for five to ten years.45

In a significant move aimed at putting an end to the contentious nuclear liability issue and assuage suppliers’ concerns, India on 4 February 2016 ratified the Convention of Supplementary Compensation for Nuclear Damage, making an important step in addressing matters related to civil nuclear liabilities. The move would help establish a worldwide liability regime of enhanced compensation for nuclear damages.46

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