CII welcomes latest notification of Commerce and Industry Ministry to increase initial validity of industrial license

CII welcomes the latest notification of the Ministry of Commerce and Industry to increase the initial validity of Industrial License.

"Department of Industrial Policy and Promotion has released Press Note No. 5 (2014 Series) through which Ministry of Commerce and Industry has sent a strong signal that the Government of India is committed to enhance ease of doing business in India" said Chandrajit Banerjee, Director General, CII.

The period of validity of Industrial License is being extended from two years to three years. The Guidelines for extension of the validity of Industrial licenses are also duly laid down.

Industrial License has been one of the biggest ' pain points' of the Indian defence industry. In various representations to the Government of India, CII has recommended that Industrial Licenses should be simplified and the period of validity should be increased.

It is heartening to see that for the extension of the Industrial License the companies are not required to go back to the Licensing Committee. It would now be done with the approval of the concerned Joint Secretary of the Administrative Ministry.

CII hopes that this would help in expeditious clearance of fresh Industrial License applications and the extension of the existing Industrial Licenses.