Initial validity of industrial license for Defence Sector revised to 15 yrs

New Delhi, Sept 23 (KNN) The initial validity of Industrial License for Defence Sector has been revised to 15 years, which can be further extended up to 18 years for existing as well as future Licenses.

The initial validity of Industrial License for Defence sector, as per Press Note 5 (2015 series), is presently seven years, further extendable up to 10 years. 

In partial modification of the above mentioned Press Note, the initial validity of Industrial License for Defence Sector is being revised to 15 years, further extendable up to 18 years for existing as well as future Licenses, Ministry of Commerce & Industry has said in a release.

However, in case a license has already expired, the Licensee has to apply afresh for issue of license. This is being done as a measure to further promote ease of doing business, in view of the long gestation period of Defence contracts to mature. (KNN Bureau)