Ministry of Defence approves issuance of two OGELs for export of certain parts and components
Published: October 29, 2019
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.