New Delhi – The Government has increased the validity of industrial licences to seven years from the existing validity period of three years.In a press note issued on Monday, the Department of Industrial Policy & Promotion (DIPP) said that it has been decided to give two extensions of two years each in the initial validity of three years of the industrial licence.
It has also been decided to deregulate the annual capacity for defence items for industrial licence. However, the licensee shall submit half yearly production return to DIPP and Department of Defence Production (DoDP), Ministry of Defence in the prescribed format, which will be notified separately.
The note added that the licensee shall be allowed to sell defence items to government entities under the control of Ministry of Home Affairs, State Governments, public sector undertakings and other valid Defence Licensed Companies without prior approval of the DoDP. Business Line
