Indian, Israeli Companies Sign 12 Defense Agreements Worth $4.3 Billion

  • Our Bureau
  • 11:17 AM, July 7, 2017
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Indian, Israeli Companies Sign 12 Defense Agreements Worth $4.3 Billion
ndian Prime Minister Narendra Modi hugs Israeli Prime Minister Benjamin Netanyahu

Indian and Israeli companies have signed agreements that include manufacturing of air defense systems, radars, anti-ship missiles, medium altitude long endurance UAVs in India under technology transfer.

About 12 agreements worth $4.3 billion were signed during a formal meeting of India-Israel CEOs forum in Tel Aviv soon after Indian Prime Minister Narendra Modi’s visit, Sputnik reported Friday.

Israel Aerospace Industries (IAI) and Kalyani Strategic Systems Ltd. (KSSL) have signed a Memorandum of Understanding (MOU) to expand joint venture for establishing a maintenance center for selected advanced air defence systems radars, anti-ship missiles and command & control systems for the Indian armed forces in Hyderabad in the state of Telengana in India for $1.54 billion.

In February 2017, IAI had signed an MOU with KSSL on establishing a joint venture that will develop, build, market and manufacture selected air defence systems and light weight special purpose munitions, in accordance with the Indian Government’s ‘Make in India’ policy.

Bangalore-based Dynamatic Technologies and Elcom signed a ‘Strategic Teaming Agreement’ to produce, assemble and support UAVs in India with IAI. The joint venture is targeting the lucrative medium altitude long endurance (MALE) UAV market in India under technology transfer from IAI. The Indian defense ministry invited a response from indigenous manufacturers for procurement of MALE UAVs for use by three defense services.

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’

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.

India’s Garware Wall Ropes Ltd. (GWRL) signed a Memorandum of Understanding (MOU) with Israel’s Aero-T for manufacturing and supply of advanced aerostats for Indian Defence.

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