Delhi, May 29: A good news for defense manufacturers. The government has taken one more step for promoting Make in India and Ease of Doing Business.
Commerce Ministry will grant licenses for applications filed by private players to manufacture tanks, fighter planes, warships and other defense equipment.
The home ministry in a gazette notification said the secretary in the Department of Industrial Policy and Promotion (DIPP) will issue licenses for manufacturing of defense items.
Some checks are in place such as the licenses will be issued to the prospective manufacturers by the DIPP under the home ministry's "supervision and control".
Earlier only home ministry was issuing licenses for defense production. Officials said that the decision was taken invite private sector in the defense manufacturing sector.
Finally, the Industry experts hailed the move saying that this move will lead to the speedier grant of licenses.