Ministry of Defence approves issuance of two OGELs for export of certain parts and components

Defence Minister Rajnath Singh has approved issuance of two Open General Export Licences (OGELs) for export of certain parts and components and intra-company transfer of technology to select countries. This decision is expected to give a boost to defence exports and enhance Ease of doing Business (EDB). The transfer of technology to the countries is subject to the condition that the export is an intra-company transfer from an Indian subsidiary (applicant exporter) to its foreign parent company and or to subsidiaries of the foreign parent company. The OGEL is a one-time export licence to be granted to a company for a specific period which would initially be only two years.