Lightbridge Corporation (LTBR)

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GE's Immelt rules out India nuclear investment under current law
Mon Sep 21, 2015 11:37am EDT

General Electric Co will not invest in atomic energy in India until accident liability laws are brought in line with global rules, Chairman Jeff Immelt said on Monday, in a setback for top-level efforts to get U.S. firms to build power stations.

Speaking shortly after a meeting with Indian Prime Minister Narendra Modi, Immelt said India needed to "homogenize" its liability law with the rest of the world.

With the 1984 Bhopal gas tragedy still fresh in India's mind, parliament five years ago passed a law that makes equipment suppliers responsible for an accident, a deviation from international norms that companies found hard to swallow.

http://www.reuters.com/article/2015/09/21/us-ge-exim-idUSKCN0RL0X220150921