Indo-Canada Nuclear Fuel Deal & MoUs with German Companies - Highlights

Indo-Canada Nuclear Fuel Deal & MoUs with German Companies - Highlights

Question - PM Narendra Modi visited Canada for first bilateral visit by an Indian PM in 42 years after his Germany trip. Discuss the highlights of the deal for nuclear fuel between India and Canada and list the main MoUs between Indian and German companies formed at Hannover Messe 2015

Indo-Canada Nuclear Fuel Deal: Important Highlights

• Canadian government has launched a C$350 or USD 280 million nuclear fuel deal for India

• Canada will now supply uranium fuel to the nation

• Dispute between 2 nations over use of Canadian technology by India for making nuclear bombs is resolved

• As per the deal, Cameco Corp will supply 7.1 million pounds/3.22 million kilos of uranium concentrate to India

• Supply will be for a duration of the next 5 years

• This is Cameco’s first deal with India

• India is currently the second quickest expanding market for nuclear fuel

• This deal follows a 2013 agreement where Canadian firms exported controlled nuclear materials subject to IAEA regulations

• Canada is the third nation to supply uranium to India following Russia and Kazakhstan

• Supplies will be made as per IAEA safeguards

• Export of uranium and nuclear hardware has been banned previously since the 1970s

• Procurement of uranium is for India’s civil nuclear power plants

MoUs Signed At Hannover Messe 2015:

Several MoUs signed by Indian industry with European businesses and associations

• 6 MoUs were signed by Indian PSUs at Hannover Messe 2015 at EEPC/Engineering Export Promotion Council of India organised event namely:

- MoU between BHEL/Bharat Heavy Electricals Limited and Russian Joint Stock Company, INTMA: For projects in Russia and Kazakhstan

- MoU between Rajasthan Electronics and Instruments Ltd/REIL and Milkotronics Ltd Bulgaria: For manufacturing Indian milk analysers

- MoU between Instrumentations Ltd and KE Kaur Engineering, Germany: For production of control valves

- MoU between Hindustan Machine Tools/HMT and Num Controls, Switzerland: For manufacturing CNC controls, drives and systems

- MoU between HMT and FT Machine Tools Germany: For collaborating on flow forming machines

- MoU between HMT and Enit GmbH Germany: For total engineering solutions

- FICCI’s MoU with HMFI/Hannover Milano Fairs: For creating a platform for showcasing innovations/solutions for urban development

Facts and Stats

About Canada

• NDA government’s nuclear power strategy taps clean energy

• Over next 20 years, India plans to boost nuclear capacity 14 times from 4560 MW

• Bilateral trade between India and Canada is current C$6.3 billion per year

• Stalled talks on FTA were also revived

• Approximately 1.2 million Canadians (4% of the population) are immigrants from India or their descendants

• Canada is the second largest uranium producer in the world; its exports are valued at USD 1 billion per year

About Hannover Messe 2015

• At Hannover Messe 2015, development priorities of Indian smart cities was outlined

• India was the partner country for this year’s Hannover Messe

• Hannover Messe is the biggest industrial trade fair in the world

About Urbanisation through Smart Cities

• Urbanisation is an international trend

• By 2050, around 64% of developing countries and 86% of developed world will be urbanised

• Key challenge for India is 9 to 10% growth per annum

• India will have 700 million people undergoing urbanisation by 2050