Govt streamlines process for grant of industrial licenses
Updated: Oct 21, 2014 12:04:14pm
New Delhi, Oct 21 (KNN) In an effort to increase ease of doing business, the government has initiated various measures to streamline the procedure for grant of industrial licenses.
Towards this, it has increased the validity period of industrial licenses, removed the stipulation about annual capacity, and allowed sale of defence items to government entities without approval of the Ministry of Defence.
“As a measure of ease of doing business, henceforth two extensions of two years each in the initial validity of three years of the Industrial License shall be allowed up to seven years. This is in supersession of Press Note No. 5(2014 Series) dated 02.07.2014,” said a press note from the Ministry of Commerce yesterday.
Further, it has decided to deregulate the annual capacity for defence items for Industrial License.
“However, the licensee shall submit half yearly production return to Department of Industrial Policy and Promotion and Department of Defence Production, Ministry of Defence in the prescribed format, to be notified separately,” it said.
In addition, “The licensee shall be allowed to sell defence items to government entities under the control of Ministry of Home Affairs (MHA), state governments, public sector undertakings (PSUs) and other valid defence licensed companies without prior approval of the Department of Defence Production (DoDP),” it said.
Nevertheless, for sale of the items to any other entity, the licensee shall take prior permission from the Department of Defence Production, Ministry of Defence, it said. (KNN/ES)
Towards this, it has increased the validity period of industrial licenses, removed the stipulation about annual capacity, and allowed sale of defence items to government entities without approval of the Ministry of Defence.
“As a measure of ease of doing business, henceforth two extensions of two years each in the initial validity of three years of the Industrial License shall be allowed up to seven years. This is in supersession of Press Note No. 5(2014 Series) dated 02.07.2014,” said a press note from the Ministry of Commerce yesterday.
Further, it has decided to deregulate the annual capacity for defence items for Industrial License.
“However, the licensee shall submit half yearly production return to Department of Industrial Policy and Promotion and Department of Defence Production, Ministry of Defence in the prescribed format, to be notified separately,” it said.
In addition, “The licensee shall be allowed to sell defence items to government entities under the control of Ministry of Home Affairs (MHA), state governments, public sector undertakings (PSUs) and other valid defence licensed companies without prior approval of the Department of Defence Production (DoDP),” it said.
Nevertheless, for sale of the items to any other entity, the licensee shall take prior permission from the Department of Defence Production, Ministry of Defence, it said. (KNN/ES)
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