Japan to start nuclear power talks with India
Japan will start talks with India over a civil nuclear energy deal, Foreign Minister Katsuya Okada said yesterday, a move that would give Japanese firms access to the rapidly growing market amid rising global competition.
Firms from countries such as the United States, France and Russia have scrambled for a foothold in energy-starved India's civilian nuclear market, worth about $150 billion, after a 2008 US nuclear accord opened up global access to it.
India, Asia's third-biggest economy, aims to double the share of nuclear power on its grid to more than 8 percent over two decades. Nuclear energy is also being touted as a way for the world's fourth-biggest emitter to curb fossil fuel emissions.
Major Japanese firms have partnered with companies abroad and engage in joint development for nuclear reactors, such as Hitachi Ltd's cooperation with General Electric and Mitsubishi Heavy Industries with France's Areva.
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