Israel signs USD 777 mn missile defence deal with India
Team Udayavani, Oct 24, 2018, 4:43 PM IST
Jerusalem: A leading state-run Israeli defence company said Wednesday it has signed a USD 777 million contract with India for the supply of Barak 8 long-range surface-to-air defence missiles and missile defence systems for the Indian Navy, media reports here said.
Israel Aerospace Industries (IAI) said India’s Bharat Electronics Limited (BEL) will be the main manufacturer for the project, Israeli business daily Globes reported.
The IAI will supply Long-Range Surface-to-Air Missile (LR-SAM) Air and Missile Defense (AMD) systems, the marine version of the AMD system Barak 8, for seven ships of the Indian Navy, the report said.
The IAI is Israel’s largest aerospace and defence company. It develops, manufactures and supplies defence systems including anti-missile, aerial systems and intelligence and cybersecurity systems.
India maintains close relations with Israel’s defence establishment and has entered into several substantial deals with Israeli defence companies.
IAI CEO and president Nimrod Sheffer said: “IAI’s partnership with India dates many years back and has culminated in joint system development and production. India is a major market for IAI and we plan to protect and reinforce our positioning in India, also in view of increasing competition.
“For its part, IAI management continually refreshes its business strategy while preserving the core capability and growth engines, of which the Barak 8 is an example,” the daily quoted Sheffer as saying.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
UK claims drastic drop in student dependents after visa crackdown
Pakistan blocks over half a million mobile SIM cards for non-compliance with tax returns
Chinese scientist who published Covid-19 virus sequence back in his lab
Harvey Weinstein to face new trial after NY rape conviction overturned
‘Regularly working’ with India in probe on alleged plot to kill Sikh separatist leader: US
MUST WATCH
Latest Additions
BJP can’t remain with those who commit atrocities against women: Amit Shah on Prajwal Revanna
Nothing will be left for future if held private properties material resources of community: SC
Amit Shah holds road show in Haveri ahead of Karnataka’s 2nd phase Lok Sabha polls
‘Markets may extend rally this month on strong domestic eco, current govt’s potential re-election’
Hoax bomb threat: Delhi government issues advisory for schools