The Hindu Business Line : India says bound by 'agreed text' of 123 pact

WASHINGTON: India and the US on Saturday sealed an “unprecedented'' nuclear deal as New Delhi said it was bound only by the “agreed text'' of the 123 Agreement, reversing 34 years of nuclear isolation of the fast-growing Asian power through culmination o f a tortuous process initiated in 2005.

“Both India and the US Administration have now completed all our internal procedures to be able to sign this path breaking agreement,'' Mr Mukherjee said after signing the agreement, paving the way for entry of American companies into the Indian nuclear market after over three decades.

Noting that the agreement reflects a “careful balance of rights and obligations'', he said “its provisions are now legally binding on both sides once the agreement enters into force.'' This comment assumes significance since the US had said the contents of the 123 Agreement were a political commitment and not legally binding, triggering concerns in India over aspects like promises on nuclear fuel assurances.

Describing the 123 Agreement as “unprecedented'', Ms Rice said it demonstrated the vast potential partnership between India and the United States. “The world's largest democracy and the world's oldest democracy joined together by our shared values and i ncreasingly by many shared interests now stand as equals closer together than ever before,'' she said.

After putting the final seal on the agreement with the US, Mr Mukherjee told reporters that India was bound only by the “agreed text'' of the 123 Agreement. - PTI

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