First Indian firm receives U.S. VEU status
General Electric India has been named the first Indian company to qualify as a U.S. validated end user (VEU), allowing the firm to enter a pre-approved, 'export express lane' as a trusted end user, U.S. Commerce Secretary Gary Locke announced this week.
After an extensive background review, the VEU designation will allow GE India to receive certain controlled items from the United States, including civilian aircraft technology and explosive detection equipment, without an individual export license.
'This is an important step in enabling a more rapid and efficient flow of sensitive technology between India and the United States,' Locke said in remarks to the U.S.-India Business Council's Synergies Summit in Washington on Wednesday. 'It also is a significant effort to build trust between the United States and India. We're looking forward to reciprocal actions from our partner.'
The VEU program, which started in 2007, is administered by the Commerce Department's Bureau of Industry and Security and implemented by an interagency committee consisting of representatives from the Commerce, State, Defense, Energy and Treasury departments.
GE India will become eligible as a validated end-user later this month after the regulation is published in the Federal Register. Locke encouraged other Indian firms to take advantage of the VEU program.
'The VEU program is a significant initiative that promotes high technology trade while protecting U.S. national security,' said Daniel O. Hill, the Commerce Department's acting undersecretary for industry and security. 'We hope that other companies will take advantage of this new program designed to facilitate trade with trusted partners.'
First Indian firm receives U.S. VEU status
