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Government eases export regulations for private defence firms

News:

  • The government has eased several bureaucratic hurdles in export regulations and done away with a provision that demanded multiple assurances by foreign governments even for the sale of components and parts by Indian entities.
  • The Manohar Parrikar-led defence ministry has come up with a new set of rules for exports for both the private and public sector that does away with the controversial ‘ultimate end user’ certificate clause for parts and components of military equipment and opens up sectors.
  • With the new rules, Indian players will now need certifications only from the immediate buyer of the component and these measures would help make Indian suppliers more competitive.
  • The ministry has also mandated a definite time line of two to four weeks for the issuance of no objections certificates for defence exports.
  • The defence ministry has made it easier to export specific defence products like armoured equipment, weapon control systems, countermeasure equipment, engines, underwater detection devices and military software.

Source: ET

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