India Raises Industrial License Validity For Defense Manufacturing To 15 Years
The Indian government has raised the validity of industrial license for defense manufacturing to 15 years and extendable provision by upto 18 years.
Currently, the initial validity for defense sector stands at seven years and further extendable up to 10 years. The Commerce and Industry Ministry made the announcement Wednesday in a move to improve ‘ease of doing business’ and long gestation period for defense contracts to mature.
"The initial validity of industrial license for defense sector is being revised to 15 years, further extendable up to 18 years for existing as well as future licenses," the Ministry said in a statement.
However, it said, in case of license already expired, the licensee has to apply afresh for issue of license.
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