India and the US on Friday operationalised the "path-breaking" bilateral nuclear deal as they signed the 123 Agreement here, with New Delhi insisting that the accord is "legally-binding" on both sides.
"Purely from a management point of view, it is far easier to manage a liberalised capital account than a capital account controlled. We have to recognise that trade is getting more and more open, and if we have more and more open trade, more and more current account, it is very difficult to manage the capital. We have to recognise that," Reddy said.