Finally good news for India and I believe for the markets too. The buzz in market is that India gets waiver from the NSG. Today it got waiver from 45 nations, which literally lifted a global ban on nuclear trade with India and approving the US. So finally after a long meeting all the because it was forced by Strong power from Us side and also after various talks by Pranab nations accepted and other congress ministers they are sure that we will not test Atom Bomb again .
What else to be done
Now the remaining thing to be done for this deal is to sign the Pact in US congress which is happening on September 8th 2008,This will close that day if they sign it after 3 years of the 123 India-US bilateral agreement was conceptualized.
If it doesn’t Happen
If it doesn’t happen this September then it has to happen only in new government and never know what will happen after that .when i say new government i’m talking about US government which is going into election in November.
How it happened
Until yesterday country like Austria , New Zealand, Ireland, Switzerland, Norway where all proposing and was insisting that provisions be included in the draft on the proposed waiver that will allow NSG to terminate nuclear business with India if it conducted another test.Finally they where all happy with the statement that Mr.Pranab Mukerji reaffirmed that New Delhi’s commitment to a ‘voluntary moratorium'.
Finally what will happen
So finally if the deal goes through in the congress then the Nuclear trade between both countries would start after 34 years when the US first did Economic sanctions on India when we did the first nuclear test in 1974.
