General Electric’s CEO, Jeffery Immelt, has halted plans to build a nuclear power plant in India due to an Indian law that could allow for suppliers to be held liable for nuclear accidents. Immelt is taking the stance that the law in India should be consistent with the global approach. The law is dampening the efforts of the Indian Prime Minister Narendra Modi’s pledge to raise India’s nuclear generation capability in order to lower greenhouse gas emissions and expand the availability of household electricity. Immelt indicated that General Electric saw a long-term opportunity to address India power shortage but despite the nuclear liability law, will continue to expand aviation, oil and gas business in the country.
By: Matt Fennell
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