Mumbai, May 22 (UNI) Director General of Foreign Trade B S Meena today urged for strict compliance on matters related to dual use of technology.
Delivering the keynote address at a workshop, organised by FICCI on ''Promoting Technology-Embedded Trade Cooperation-Explaining Indian and International Strategic Trade Regulations'', Meena said the Indian licencing requirements are increasingly aligned to international standards and the industry can significantly expand its market share and profits by putting in place international caliber safeguard and export control procedures.
He stressed the fact that the dual use of control laws was expanded from special materials, equipment and technology (SMET) to Special Chemical Organisms, Materials, Equipment and Technology (SCOMET) following India's signing and ratifying the Chemical Weapons Convention in 1996.
With the passage of Weapons of Mass Destruction Act, in July, 2006, the Indian control laws have been harmonized with those of the Nuclear Suppliers Group (NSG) and the Missile Technology Control Regime, he said.
The worskshop was also attended by representatives from Center for International Trade& Security (CITS), University of Georgia, USA and the US Department of Energy (DOE).