UK to issue Open General Export Licence (OGEL) to India

Tags: Economics/Business International News

In a statement, the British High Commission said the UK will issue an Open General Export Licence (OGEL) to India to cut the delivery period for defence purchases.

  • The British Prime Minister arrived in India on a two-day visit in the backdrop of the Russo-Ukraine War.

  • The UK is creating an Open General Export Licence (OGEL) for India to reduce bureaucracy and reduce delivery times for defence procurement.

  • It will partner with India in the maritime domain along with new fighter jet technology to detect and respond to threats.

  • What is Open General Export Licence (OGEL)?

  • It is a type of licence that is used for the export licence that is issued by the government for domestic suppliers.

  • The goods exported to India are classified into three types.

  • They are prohibited items, restricted items and freely importable items.

  • These classifications are made on the basis of the nature and use of the products.

  • OEGL's application process and grant will be looked after by the Department of Defence Production.

  • The primary objective of OEGL is to boost India's defence exports.

  • Belgium, France, Germany, Japan, South Africa, Spain, Sweden, UK, USA, Canada, Italy, Poland and Mexico are allowed under the OGELs.

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