Israel’s Elbit Security Systems Ltd signed a contract with an Indian counterpart Alpha Design Technologies Pvt. Ltd for expansion of the existing joint venture ‘Alpha-Elsec Defence & Aerospace Systems Pvt Ltd’, during Prime Minister Narendra Modi’s visit to Tel Aviv this week.
The inking of this agreement enhances the scope of operation of the JVC into niche technological areas such as new generation thermal imaging equipment’s, state-of-art fire control systems, unmanned aerial systems (UAS) under the mini, medium sized UAV category, in addition to night vision devices, laser range finders, laser pointers, reflex sights, amongst the others.
The two companies have agreed that this expansion would forge a technology based partnership with emphasis on the ‘MAKE-IN-INDIA’ initiative by setting up ultra-modern facilities for design, development and manufacture of the above.
In his remarks, Gen Avi Mizrachi, Executive Vice President (Business Development) of Elbit Security Systems, said, “India has been a key market for us and the Make-in-India initiative requires that International Companies like Elbit should expand operations in India through strategic alliance with Indian Partners. Our successful association with our Indian Partner Alpha Design in the last few years has resulted in forging a strong technological and business partnership in the form of the JVC and we look forward to continued growth in India.”
Col. H. S. Shankar, VSM (Retd), Chairman & Managing Director, Alpha Design Technologies, said, “The agreement entered today is a major milestone for a private sector company in the MSME segment to form a strategic partnership with one of the global leaders like Elbit. This JVC would combine the excellent technological capabilities of Elbit with the young and talented manpower resources of Alpha Design to form center of excellence in thermal imager technology. In addition to meeting the Indian defence market demands, the JVC’s focus would be to cater to the exports business opportunity of minimum 50%. This platform would bring FDI into the country and also generate employment for engineers, technologists, skilled technicians and other related staff functions”.