The step comes after several medical device associations and stakeholders had sent representations to the drug regulator, asking for an extension to adhere to the new licensing regulations
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The government on Monday said that all industrial licences issued under the IDR Act will now be valid for 15 years as against three years with a view to promoting ease of doing business. The Industries (Development and Regulation) Act deals with issuance of licences to industries. "In supersession of all earlier Press Notes, the period of validity of industrial licence is being extended from three years to fifteen years for all kinds of Licenses henceforth to be granted under IDR Act in line with the validity of licenses being issued for defence items as a measure for ease of doing business," the Department for Promotion of Industry and Internal Trade (DPIIT) said. Streamlining the procedure for grant of industrial licences, the DPIIT said an extension of three years may be granted by the concerned ministry as per specified guidelines. These guidelines are applicable for extension of validity of the licence in cases where the existing licence holder has not commenced production of
President of Association of All Industries Mandideep Rajeev Agrawal said the announcement will encourage industrialists to focus more on their business
Acting on the high court's directive, six companies, including Ola and Uber, had made 10 applications for aggregator's licence under the Union government's guidelines
The new law will be applicable to greenfield industrial projects under Information Technology, Tourism, MSME and Industries categories
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