Late last month, the Ministry of Defence (MoD) notified two Open General Export License (OGEL) schemes to make an intra-company transfer of software and technology and export of parts and components easier. This step is obviously intended to give an extra push to exports, which have witnessed an upswing in recent years.
Going by MoD’s annual report for 2018-19, the authorisations for export increased from 254 in 2016-17 to 668 in 2018-19, while the total exports rose from Rs 1,521.91 crore to Rs 10,745.77 crore during the same period.
The draft Defence Production Policy 2018 had set the target of increasing defence exports to Rs 35,000 crore by 2025. At the present rate of growth, and with various measures being taken by the MoD, it should be possible to achieve the target much earlier. OGELs could come in handy if that is to happen. Read More