Rajnath Singh approves two OGEL's to push Defence exports

Defence Minister Rajnath Singh on Thursday approved the issuance of two Open General Export Licences (OGELs) for export of certain parts, components, and intra-company transfer of technology to select countries. The move is aimed at boosting the defence exports and enhance ease of doing business in the country. However, the demand for these licenses will be considered by the Department of Defence Production (DPP) on a case-to-case basis.

Rajnath Singh approves two Open General Export Licences to push defence exports

The Department of Defence Production held consultations with various stakeholders and formulated the OGEL policy. The policy was then sent to the Defence Minister for approval. For the acquisition of the licences, it is mandatory for the applicants to have an Import-Export certificate, according to the statement released by the  Government. The countries allowed under the  OGELs are Belgium, France, Germany, Japan, South Africa, Spain, Sweden, UK, USA, Canada, Italy, Poland, and Mexico. 

The OEGL license grants permission to components of ammunition and fuse setting devices without energetic and explosive material, firing control and related and warning equipment and related system, and body protective items. The statement further said that the license will be valid for a period of two years. Defence exports of India have grown significantly in recent years, in 2018, the defence exports of India reached 10 thousand 500 crore rupees. 

India's ease of doing business improved

According to the world bank's ease of doing a business survey, India climbed 14 rungs to stand at 63, among 190 countries, making it one of world’s top 10 most improved countries for the third consecutive time. Last year, India jumped 23 places to reach the 77th position.  The World Bank in a statement said, “Among other improvements, India made the process of obtaining a building permit more efficient. Obtaining all permits and authorizations to build a warehouse now costs 4% of the warehouse value, down from 5.7% the previous year. In addition, authorities enhanced building quality control in Delhi by strengthening professional certification requirements. Importing and exporting also became easier for companies with the creation of a single electronic platform for trade stakeholders, upgrades to port infrastructure and improvements to electronic submission of documents." 

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