This means that only under the rarest circumstances will India be denied licenses, a source familiar with the changes said. The new rule also amends the law so that companies will not need a license at all after becoming a Validated End User (VEU). Over 810 licenses representing some USD 5 billion in trade in the last half decade have been granted for goods covered under this new rule.
US makes changes in export control laws to benefit India – Times of India
