Israel signs USD 777 Million Missile Defence Deal with India: – Israel Aerospace Industries (IAI) has bagged an additional $777 million contract to supply Long Range Surface To Air Missile (LRSAM) air and missile defence systems to seven ships in the Indian navy, Reuters has reported. The contract follows an earlier $630 million deal last year for the LRSAM system, a part of the Barak 8 family.
IAI is owned by the Israel government and the company will be working along with the main contractor, Bharat Electronics Limited (BEL). The move signals further strengthening of Indo-Israel defence ties as India moves to diversify its supplier base cutting the overwhelming reliance on Russia.
“IAI’s partnership with India dates many years back and has culminated in joint system development and production. India is a major market for IAI and we plan to reinforce our positioning in India, also in view of increasing competition,” IAI Chief Executive Officer Nimrod Sheffer told Reuters.
The Barak 8 missile was developed Jointly by IAI, Israel’s Defence Ministry, Defence Research and Development Organisation (DRDO), the navies of both countries and Israel’s Rafael. Local industries of India and Israel have also played a role in its development. IAI had struck a deal worth $2 billion to supply India’s army and navy with missile defence systems last year.
Israel Aircraft Industries (IAI) has signed a $777 million deal with India in which IAI will supply Barak 8 air defense systems to seven Indian Navy vessels.
Barak 8 is an active defense system for sea-to-air and surface-to-air missiles designed to protect against aircraft, helicopters, UAVs, anti-ship missiles, cruise missiles, and more.
The advanced defense system has been sold to a number of customers around the world for a total of $3 billion.
Defense Minister Avigdor Liberman welcomed the deal’s signing with India. “Congratulations to Israel Aircraft Industries and the defense establishment on the huge deal for the sale of Barak 8 to India, which is another proof that security is an investment and not an expense. IAI is a national asset. It must be maintained and strengthened.”