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WASHINGTON: US President Barack Obama and Indian Prime Minister Narendra Modi on Tuesday welcomed the start of preparatory work on six nuclear reactors in India, a key step in closing the first deal stemming from a US-India civil nuclear accord struck over a decade ago.
The two leaders said in a joint statement that India and the US Export-Import Bank intend to work together toward a competitive financing package for the project and will work to finalize contractual agreements by June 2017.
“Once completed, the project would be among the largest of its kind, fulfilling the promise of the US-India civil nuclear agreement and demonstrating a shared commitment to meet India’s growing energy needs while reducing reliance on fossil fuels,” the joint statement said.
Narendra Modi has expressed support for the enactment this year of a worldwide climate accord reached in Paris, the White House said on Tuesday.
“I believe what Prime Minister Modi has said about this is that India shares the objective that the United States has laid out, which is to see the agreement come into force this year,” White House spokesman Josh Earnest said at a news briefing after President Barack Obama met with Modi at the White House.