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Open General Export License to boost defence exports

Federation of Chamber of Commerce and Industry (FICCI) indicated that Mr Sanjay Jaju, JS (DIP), Department of Defence Production Ministry of Defence, Government of India today said that government will, within a month, launch new 'Open General Export License' scheme to boost Indian defence exports.Open General Licence (OGL) deems that the items are, “freely importable without restrictions and without a license, except to the extent that they are regulated by the provisions of the Policy or any other law. "It is important for us to now look at platforms and while looking at these platforms, it is important that we are competitive and able to provide good value for money to the buyer."Further highlighting the potential of defence exports, Mr Jaju stated that Indian manufacturing economy is likely to reach USD 1 trillion in next five years of which he expects USD 25 billion would come from the defence sector and further USD 5 billion to be generated by exports...................

 

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