Government to launch 'Open General Export License' to boost exports
myiris , Jun 18, 2019
Department of Defence Production Ministry of Defence, Government of India today said that government will, within a month, launch new 'Open General Export License' scheme to boost Indian defence exports.
Speaking at the 'Workshop for Defence Export Promotion' organised by FICCI, Mr Jaju said through the new license industry will be able to access international market and make the products more competitive. He further said that the production will also become better, both qualitatively and will also provide value for money for Indian customer. ''We are working on launching the Open General Export License where the entire process of taking permission from government will also be further reduced.''
Jaju stated that Indian exporters need to diversify the product line to be internationally competitive. ''It is important for us to now look at platforms and while looking at these platforms, it is important that we are competitive and able to provide good value for money to the buyer.''
Further highlighting the potential of defence exports, Jaju stated that Indian manufacturing economy is likely to reach USD 1 trillion in next five years of which he expects USD 25 billion would come from the defence sector and further USD 5 billion to be generated by exports.