Business

Breaking news: Further Boost to Defence Manufacturing, DIPP Clears Defence Licenses Worth 613 Crs.

Breaking news: Further Boost to Defence Manufacturing, DIPP Clears Defence Licenses Worth 613 Crs.
Breaking news: Further Boost to Defence Manufacturing, DIPP Clears Defence Licenses Worth 613 Crs.
The Department of Industrial Policy & Promotion(DIPP) has been in the vanguard for undertaking major reforms to promote Defence Manufacturing under Make in India Initiative. Continuing with the momentum created, it has so far issued 73 Industrial Licenses in Defence sector during last one year (since June 2014), against 50 License granted during 2011 to May 2014. These include 16 proposals with proposed investment of Rs. 613 crores, cleared in recent Licensing Committee meeting chaired by Secretary, DIPP, held on 10.06.2015.

The proposals cleared in last Licensing Committee meeting included applications from major players like Pipavav, Tatas, Samtel Thales, Solar Industries, Titagarh, Wagons, Premier Explosives etc. Many of these proposals were pending in Government for last several years.

The approved Licenses are for manufacture of various kinds of Arms and Ammunition such as Helicopters, Aircrafts, Radars, Bullet Proof Jackets, Bullet Proof Helmets, Ammunition Fired from Artillery, Tanks, Helicopters and Aircrafts, Rockets and Missiles, Filled Fuzes for Artillery Shells, Mortar Bombs, Missiles, Grenades, Vessels of War, Radar, Electronic War-fare Systems, Night Vision Devices, Guns, Howitzers, Mortars, Protected Tactical Vehicles, Guns, Howitzers, Mortars, Protected Tactical Vehicles, Armoured Vehicles, Armoured Personnel Carriers, Military fuses, UAVs etc.

Recently, Government had increased the initial validity period of Industrial License for Defence Sector to seven years from earlier three years, further extendable upto three years, in view of the long gestation period of defence contracts to mature. In addition to this, the Government has taken a series of measures to improve the Ease of Doing Business in India. The Government now expects that these measures will give a boost to the private participation in the vast opportunities available for defence manufacturing in India.

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