DIPP clears 19 pending proposals for grant of industrial licence
Updated: Oct 08, 2014 10:22:45am
New Delhi, Oct 8 (KNN) Giving a big boost to “Make In India”, the Licensing Committee chaired by Secretary, Department of Industrial Policy & Promotion has last week cleared 19 proposals for grant of Industrial License, many of which were pending in Government for last several years.
These included applications for defence production from major players like, Reliance Aerospace Technologies Limited, Bharat Forge Limited, Mahindra Telephonic Integrated Systems Limited, Punj Lloyd Industries Limited, Mahindra Aero Structure Pvt Limited and Tata Advanced Materials Limited.
Many of these proposals were pending in Government for last several years. It has been possible to approve these cases as consequence of the simplification of FDI policy …which has raised the FDI cap in defence from 26 per cent to 49 per cent and permitted portfolio investments up to 24 per cent of the total equity of the investee / joint venture company under automatic route and doing away with requirement of 51 per cent equity ownership by a single Indian investor/company, Ministry of Commerce & Industry said in release.
In case of another additional 14 pending defence applications, applicants were informed that licenses were not required anymore as a vast number of defence items have been delicensed.
It is expected that clearance of these 33 applications and the deregulation of Defence product List excluding a large number of components from purview of industrial licensing will provide a major impetus to advanced manufacturing in Defence sector.
Government has taken a series of measures to improve the Ease of Doing Business in India. The emphasis has been on simplification and rationalization of the existing rules and introduction of information technology to make governance more efficient, effective, simple and user friendly.
The measures include 24X7 availability of online filing of Industrial License(IL) and Industrial Entrepreneur Memorandum(IEM) applications, increasing initial validity period of Industrial License to three years, streamlining the processing of applications for grant of extension of validity of Industrial License, treating partial commencement of production as commencement of production for all the items included in the license, adoption of highly contemporary industrial classification code NIC 2008 in place of NIC 1987 and doing away with the requirement of affidavit from the applicants of Defence Industrial License, with the issue of the Defence Security Manual. (KNN Bureau)
These included applications for defence production from major players like, Reliance Aerospace Technologies Limited, Bharat Forge Limited, Mahindra Telephonic Integrated Systems Limited, Punj Lloyd Industries Limited, Mahindra Aero Structure Pvt Limited and Tata Advanced Materials Limited.
Many of these proposals were pending in Government for last several years. It has been possible to approve these cases as consequence of the simplification of FDI policy …which has raised the FDI cap in defence from 26 per cent to 49 per cent and permitted portfolio investments up to 24 per cent of the total equity of the investee / joint venture company under automatic route and doing away with requirement of 51 per cent equity ownership by a single Indian investor/company, Ministry of Commerce & Industry said in release.
In case of another additional 14 pending defence applications, applicants were informed that licenses were not required anymore as a vast number of defence items have been delicensed.
It is expected that clearance of these 33 applications and the deregulation of Defence product List excluding a large number of components from purview of industrial licensing will provide a major impetus to advanced manufacturing in Defence sector.
Government has taken a series of measures to improve the Ease of Doing Business in India. The emphasis has been on simplification and rationalization of the existing rules and introduction of information technology to make governance more efficient, effective, simple and user friendly.
The measures include 24X7 availability of online filing of Industrial License(IL) and Industrial Entrepreneur Memorandum(IEM) applications, increasing initial validity period of Industrial License to three years, streamlining the processing of applications for grant of extension of validity of Industrial License, treating partial commencement of production as commencement of production for all the items included in the license, adoption of highly contemporary industrial classification code NIC 2008 in place of NIC 1987 and doing away with the requirement of affidavit from the applicants of Defence Industrial License, with the issue of the Defence Security Manual. (KNN Bureau)
Loading...
