Millennium Post

Israel, India sign $2 bn missile deal

In a mega-contract worth over USD 1.6 billion, state-owned Israel Aerospace Industries (IAI) will provide advanced medium-range surface-to-air missile systems (MRSAM) to the Indian Army.

Israel, India sign $2 bn missile deal
Israel has signed a nearly USD two billion deal with India to supply advanced missile defence systems, bolstering bilateral military ties in a contract said to be the largest in Israel's defence industries' history.

In a mega-contract worth over USD 1.6 billion, state-owned Israel Aerospace Industries (IAI) will provide advanced medium-range surface-to-air missile systems (MRSAM) to the Indian Army.

IAI said it would also supply additional long-range air and missile defence systems (LRSAM) for the first locally produced Indian aircraft carrier, the company said in a statement on Thursday, describing the deal the largest in Israel's defence industries' history. The contract is worth 1.6 billion USD 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 IAI's capabilities and advanced technologies, which are being developed with our local partners as part of the Indian governments Make in India policy',"IAI 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, congratulated Weiss on the "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 IAI's CEO. Weiss responded calling it a "truly remarkable achievement" and "a wonderful gift for the upcoming festival (Passover)" to be celebrated next week.

Israel's 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.

Indian companies such as BEL and L&T are said to have also participated in the project.
Agencies

Agencies

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