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Prime Minister Narendra Modi and US President Barack Obama will be holding their third bilateral summit on September 28 that will see both leaders taking economic and strategic engagement between the two countries to the next level encompassing all outstanding issues.
PM Modi, who will be visiting the US from September 24-30, will be holding the meeting with Obama in New York. Before that, Modi will visit the Silicon Valley on September 26-27. During the meeting, it is expected that both leaders will take stock of the progress made by the US companies in forging a commercial tie-up on the civil nuclear deal. During their last bilateral meeting in January, both sides had claimed reaching a "breakthrough" in the civil nuclear deal ending the six-year-old logjam.
It seems during the visit, General Electric and Westinghouse might announce setting up of their nuclear power plants in Gujarat and Madhya Pradesh.
The main bone of contention in the nuclear deal was the liability clause. It was later decided that an insurance pool would be set up lessening the exposure of foreign companies in the event of a nuclear accident. The Nuclear Power Corporation of India (NPCIL) would claim the insurance on behalf of the companies.
It is also expected that when both leaders meet, the US will push India to wrap up the talks on Bilateral Investment Treaty (BIT) that will seek to protect American investors in case of a dispute.
