India signs missile deal worth nearly ?13,000 cr with Israel
Israel Aerospace Industries (IAI) has announced that it has signed a $2 billion (nearly ?13,000 crore) contract with India to supply advanced medium-range surface-to-air missile systems. IAI said it was their largest defence contract. IAI added that it would also supply additional long-range air and missile defence systems for the first locally-made Indian aircraft carrier.
From Harinder Mishra Jerusalem, Apr 6 (PTI) Israel has signed a USD 2 billion contract with India to supply it with missile defence systems, the state-owned Israel Aerospace Industries said today. Israel Aerospace Industries (IAI) in an announcement said that it has been awarded its largest defence contract of almost USD 2 billion for supplying advanced medium-range surface-to-air missile systems (MRSAM) to India. IAI said it would also supply additional long-range air and missile defence systems (LRSAM) for the first locally produced Indian aircraft carrier. The contract is worth USD 1.6 billion for IAI, with the rest going to another state-owned defence company Rafael, that will be providing components for the systems. "The current contracts represent an enormous expression of confidence by the government of India in IAIs capabilities and advanced technologies, which are being developed with our local partners as part of the Indian governments Make in India policy," IAI Chief Executive Officer (CEO) Joseph Weiss said in a statement. President Reuven Rivlin, who is said to have discussed the deal with Indian leaders during his trip to India early this year, called to congratulate Weiss on this "historic" deal terming it truly "exceptional". "Please pass on my congratulations to all who contributed to this important achievement. You have come such a long way to arrive at this point, it is truly exceptional," Rivlin told IAIs CEO. "Israels willingness to share technology and form joint ventures with Indian companies to develop and manufacture military equipment supporting the Make in India initiative is said to have been well received in New Delhi. In the case of MRSAM, an advanced air and missile defence system that provides protection against a variety of aerial threats, the technology is said to have been jointly developed by IAI and Indias Defence Research and Development Organisation in collaboration with Rafael and IAIs Elta division. 