Washington//New Delhi: The continuation of the Kovvada nuclear power plant project in Andhra Pradesh with the help of the United States as well as the resumption of the Indo-American trade dialogue and the forum of CEOs to strengthen economic ties have been discussed at the India-US 2+2 dialogue. During the 2+2 meeting between Defense Minister Rajnath Singh and External Affairs Minister S Jaishankar, and their US counterparts Defense Secretary Lloyd Austin and Secretary of State Antony Blinken, both sides expressed their Satisfaction with the progress made on the various collaborative initiatives under India’s leadership. -US Civil Nuclear Energy Task Force and Global Center for Nuclear Energy Partnership Joint Task Force.
Ministers took note of the ongoing negotiations between the Nuclear Power Corporation of India Limited (NPCIL) and the Westinghouse Electric Company (WEC) for the construction of six nuclear reactors in India. They welcomed the progress made through consultations between the US Department of Energy and the Indian Department of Atomic Energy to facilitate opportunities for WEC to develop a technical-commercial offer for the Kovvada nuclear project. They also noted the ongoing discussion on the development of next-generation small modular reactor technologies in collaborative mode for the domestic market as well as for export, according to a joint statement. The Kovvada nuclear power plant was proposed in 2015.
It is a six gigawatt light water reactor plant in the Ranasthalam block of Srikakulam district set up by the Nuclear Power Corporation of India Limited, with the reactors supplied by GE Westinghouse. The project spans over 2,079.79 acres in seven coastal villages. State Minister Jitendra Singh said in a written response to the Rajya Sabha that the Center had given approval in principle for the establishment of six reactors of 1,208 MW each at the Kovvada nuclear power plant in Srikakulam in Andhra. Pradesh. During Monday’s talks, the two sides also underscored the importance of strengthening the trade and economic pillar of the India-US partnership to advance economic growth and ensure the mutual prosperity of the two countries.
They applauded the rebound in bilateral trade between the two countries over the past year, topping $113 billion worth of goods. They welcomed the 12th Ministerial Meeting of the India-US Trade Policy Forum (TPF) and the resumption of working group discussions to expand bilateral trade, remove barriers to access to markets and improving the ease of doing business. They looked forward to both sides developing action plans that identify and prioritize the resolution of specific trade issues to build on the progress made at the last TPF Ministerial meeting.
They also reiterated the importance of a transparent and predictable business environment to facilitate private sector investment, and looked forward to resuming India-US Business Dialogue and CEO Forum this year to enhance economic cooperation, strengthening trade links and developing the private sector. recommendations to both governments. Ministers reaffirmed the vital role of secure, resilient, reliable and diverse supply chains for critical and emerging technologies (TEC) and the need to enable regional and global innovation.
The ministers decided to set up a framework to advance cooperation in TECs such as advanced communication technologies, artificial intelligence, quantum science, STEM, semiconductors and biotechnology. Ministers noted the substantial progress in the negotiations of an Investment Incentive Agreement (IIA) between the Governments of India and the United States, which provides a framework for the American Development Finance Corporation International (DFC) to continue to increase its investment in India – for private sector-led projects in critical areas such as renewable energy, agriculture, health and SME finance. Ministers encouraged negotiators to resolve remaining issues so that the IIA can be concluded as soon as possible, he added.