Rajnath Singh approved the issuance of two Open General Export Licences

25 October 2019 Current Affairs: Defence Minister Rajnath Singh has approved the issuance of two Open General Export Licences (OGELs) for export of certain parts/components and intra-company transfer of technology to select countries. 

The application for the grant of OGEL will be considered by the Department of Defence Production (DPP) on a case-to-case basis. The DPP consulted with various stakeholders and formulated the OGEL policy.

Aim:

The move aims to give a boost todefence exports. It will also enhance the ease of doing business. 

OGEL countries:

♦ The countries allowed under the OGELs are Spain, Sweden, UK, the USA, Canada, Italy, Belgium, France, Germany, Japan, South Africa,  Poland, and Mexico. Under OGEL, the export of items to any Special Economic Zone is not permitted.

♦ The applicant must have an Import-Export certificate for acquiring the licences. The quarterly and end of the year report on all the transactions that are done under OGELs must be submitted to DPP for examination and post-export verification.