By NNN-PTI,
Washington : After three years of tough negotiations, India and the US on Saturday sealed the landmark civil nuclear deal, with New Delhi insisting that fuel supply assurances are “legally-binding” on both the countries which have “responsibilities and obligations” to implement it.
The 123 agreement, which operationalises the nuclear deal, was signed by External Affairs Minister Pranab Mukherjee and Secretary of State Condoleezza Rice here, paving the way for American companies to have a share in the multi-billion dollar Indian nuclear pie.
The nuclear deal, envisioned by Prime Minister Manmohan Singh and President George W Bush on July 18, 2005, marks an end to over three-decade-old US restrictive policy towards India in the nuclear field.
Speaking on the occasion, Rice said the nuclear deal demonstrates that “now there is nothing we cannot do.”
Mukherjee said “we will implement this agreement in good faith. That clearly implies we trust each other.” Noting that the agreement reflects a “careful balance of rights and obligations”, he said “its (agreement’s) provisions are now legally-binding on both sides once the agreement enters into force.”
“We are bound by the agreed text of the 123 agreement, which was negotiated by the negotiators of the two countries… The text of the agreement, if you go through, has entrusted responsibilities and obligations on both sides,” he said.