Israel’s Rafael and India’s Reliance Defense firm sign deals to cooperate on air-to-air missiles, air defense systems & surveillance balloons, worth $10 billion.
Rafael Advanced Defense Systems signed a cooperation agreement with India’s Reliance Defense firm on Tuesday that will encompass future deals worth 10 billion dollars, the companies announced in Goa, where the 2016 Defexpo exhibition is taking place.
The agreement covers cooperation in the production, development, and supply of air defense systems, air-to-air missiles, and surveillance balloons, Rafael said.
The ceremony was attended by Israel’s Ambassador to India, Daniel Carmon, and Rafael Director-General Maj.-Gen. (res.) Yoav Har-Even.
The Reliance company is one of the five largest conglomerate holding companies in India, with assets worth 15 billion dollars, and business activities related to infrastructure, media, and energy.
Har-Even said the cooperation joins other local joint projects, and is “part of our global strategy for cooperation in general and in India specifically. This cooperation will help us give the Indian Ministry of Defense its added value when it comes to deal with the goals and challenges that it faces.”
This year, the highest number of Israeli defense industries – 28 – have set up booths at the Defexpo event, under the auspices of the Defense Ministry’s Defense Exports Branch. The large Israeli delegation “best reflects the growing defense and technological ties between India and Israel,” Michael Ben-Baruch, head of the Defense Ministry’s Sibat Department (Defense Export Organization), said.
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