igned $2 bn missile contract with India, says Israeli firm | Current Affairs, Current Affairs 2017

igned $2 bn missile contract with India, says Israeli firm

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Israel Aerospace Industries (IAI) on Thursday announced the signing of contracts worth almost $2 billion for supply of medium range surface to air missiles (MRSAM) and missile defence systems to the Indian Army.

“In a mega-contract worth over $1.6 billion, considered to be the largest defence contract in Israel defence industries’ history, IAI will provide an advanced MRSAM air and missile defence systems to the Indian Army,” IAI said in a statement.

“The company will also supply additional Long Range SAM air and missile defence systems for the first built in India aircraft carrier,” it said.

IAI President and CEO Joseph Weiss said: “Over the past 25 years, IAI has worked with the Indian defence industries and armed forces in many areas as part of our strategic partnership. 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 Government’s ‘Make in India’ policy.”

“This contract award also recognises the professionalism of all of Israel’s defence industries. We at IAI are proud to be leading this flagship project after a long and joint development process.”

The MRSAM was developed jointly for the Indian Army by IAI and India’s Defence Research and Development Organisation (DRDO) in collaboration with RAFAEL and IAI/Elta, which worked with various Indian companies including BEL, L&T, BDL and other private vendors.

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