India To Purchase $1.5 Billion Worth Spike, Barak-8 Missile Systems
09:59 AM, April 12, 2017
File photo of Indian Navy's INS Kolkata test firing Barak-8 air defense missile in December 2015.
India is expected to finalize two deals with Israel for purchase of the anti-tank missiles and a naval air defense weapon system in couple of months, as part of $250 billion modernization plan.
The deals worth $1.5 billion for Spike anti-tank missiles for Indias army and Barak-8 air defense missiles for its navy are expected to be finalized in the next two months, before Prime Minister Narendra Modis first visit to Tel Aviv in July, Economic Times reported citing a source. The delivery of the 8,000 missiles will begin two years after the contracts are signed.
The deals announcement follows transactions finalized last week to obtain medium- and long-range surface-to-air missiles worth $2 billion for the Indian Army from IAI.
The purchase of Spike missiles was approved by Indias Defence Acquisition Council in October 2014 and the Barak-8 purchase proposal was given the go-ahead in a meeting on April 3 this year, the report added.
Israel Aerospace Industries (IAI) has signed 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
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