India set to buy missiles worth $500m from Israel - report

Rafael's Spike missile Photo: Rafael

India is set to sign a deal with Israel to buy 4,500 Spike anti-tank guided missiles from Rafael Advanced Defense Systems, the "Hindustan Times" reports.

India is set to sign a deal with Israel to buy 4,500 Spike anti-tank guided missiles from Rafael Advanced Defense Systems Ltd. for $500 million, the "Hindustan Times" reports. The deal awaits final approval from the Modi government, Israeli and Indian officials told the "Hindustan Times" ahead of Ministry of Defense director general Udi Adam's visit to India next Monday, July 2. to discuss bilateral defense cooperation.

India originally wanted to purchase 8,000 Spike missiles, with 3,000 of the missiles to be manufactured in India. But the deal got called off, according to the "Hindustan Times," because Israel did not agree that so many of the missiles should be made in India.

The deal was reportedly renegotiated in January in government-to-government talks when Israeli Prime Minister Benjamin Netanyahu visited India with a much smaller quantity of missiles to be manufactured in India.

The "Hindustan Times" also reports that while in India Udi Adam will discuss the possibility of India procuring two more Phalcon-Awacs deep penetration radar systems for $1 billion. India already has three of the systems produced by Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) unit Elta Systems. Another possibility would be a deal with Israel Weapons Industries to produce TAVOR-21 assault rifles in India.

Published by Globes [online], Israel business news - www.globes-online.com - on June 27, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Rafael's Spike missile Photo: Rafael
Rafael's Spike missile Photo: Rafael
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