Speaking at the 'Workshop for Defence Export Promotion' organised by FICCI, Sanjay Jaju, Joint Secretary (Defence Infrastructure Panel) in the Ministry of Defence, said that through the new licence, the industry will be able to access international market and make the products more competitive.
To boost defence exports, the government will launch 'Open General Export License' scheme with a month, a senior Defence Ministry official said.
Speaking at the 'Workshop for Defence Export Promotion' organised by FICCI, Sanjay Jaju, Joint Secretary (Defence Infrastructure Panel) in the Ministry of Defence, said that through the new licence, the industry will be able to access international market and make the products more competitive.
"We are working on launching the Open General Export License where the entire process of taking permission from the government will also be further reduced," he said.
Jaju added that the production will become better qualitatively and also provide value for money for Indian customer.
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He stressed that Indian exporters should 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," he said.
Rear Admiral Atul Khanna, Additional Director General Quality Assurance (Naval), DGQA, Ministry of Defence, said that the Indian defence industry is currently undergoing a tectonic phase.
"Demand side is moving much faster and the catch-up between demand and production is not happening. Given the policy-level changes happened over last five years, the next decade is going to turn the tides," he added.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.
