Move to streamline industrial licensing to help new players

Tags: News
Industry body CII has welcomed the government's move to streamline the industrial licensing process for defence equipment, saying it would bring more clarity to the procedures and encourage new entrants into the sector.

Stating that the Indian defence industry is already at the bottom of the value chain and there is very less incentive for anyone to set up a defence equipment manufacturing unit in India, CII stressed on the need to maintain a fair balance between addressing genuine security concerns and promoting the sector.

"Given the opportunity, the defence industry has the potential to generate large employment opportunities and provide much-needed impetus to India's manufacturing sector leading to its professed goal of self-reliance," said Baba N Kalyani, Chairman of CII National Committee on Defence.

"We are also hopeful that the delays in granting and renewing industrial licensing would also be addressed at the earliest," he added.

Streamlining the industrial licensing process for defence equipment, the government today said permits won't be needed to manufacture items other than those used in the battleground.

Industrial licences would be required only to make items such as tanks and other armoured fighting vehicles; defence aircraft, space aircraft and parts; warships of all kinds; and arms and ammunition and allied items of defence equipment, parts and accessories.

Defence items are covered under compulsory licensing under the Industries (Development and Regulation) Act, 1951.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Those willfully defaulting on loans should be blacklisted by Sebi

    As reported by this newspaper’s Monday edition, the Securities and Exchange Board of India (Sebi) has found merit in the Reserve Bank of India’s s

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Kumar Jain

Kickstarting technological innovation

One of the key dimensions of global competitiveness is the ...

Kuruvilla Pandikattu SJ

Developing moral, spiritual capacity

Writing in The Huffington Post, Noam Chomsky, professor emeritus, MIT ...

Gautam Gupta

Manufacturing must keep workers’ welfare in mind

It may be early days yet, but the labour reforms ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture