Norms for the manufacturing of defence items relaxed

The government has relaxed norms for the manufacturing of the defence items. As per new norms, manufacturing of items of defence aerospace and warships will now be covered by Industries (Development and Regulation) Act and will not require any licence from the Commerce and Industry Ministry.
The Department of Industrial Policy and Promotion (DIPP), under the Ministry of Commerce and Industry, has issued a clarification on the list of defence products requiring a compulsory licence under Industries (Development & Regulation) Act, 1951 (IDRA), and Arms Act, 1959.
The new norms together with enhancing the ease of doing business will aid in attracting investments and fasten the process of indigenisation of defence production.

Month: Current Affairs - January, 2019