Israel Aerospace Industries signs historic $2 billion arms deal with India

IAI was awarded contracts in India totaling almost $2 billion, the largest defense contract in Israel’s history.

Israel Aerospace Industries (IAI) announced Thursday the company has been awarded contracts in India totaling almost $2 billion.

In a mega-contract worth over $1.6 billion, and the largest defense contract in Israel’s defense industries’ history, IAI will provide an advanced air and missile defense system to the Indian Army.

The company will also supply additional defense systems for the Indian aircraft carrier, the first to be built by the country.

The system provided, the MRSAM, is an advanced air and missile defense system that provides the ultimate protection against a variety of aerial threats, akin to the Israeli Barak 8.

In its existing version, MRSAM is operational with the Indian Air Force, Indian Navy and IDF.

MRSAM was developed jointly for the Indian Army by IAI and India’s Defense Research and Development Organization (DRDO) in collaboration with RAFAEL and IAI/Elta.

Joseph Weiss, IAI’s President and CEO, said “over the past 25 years, IAI has worked with the Indian defense industries and armed forces in many areas as part of our strategic partnership. The current contracts represent an enormous expression of confidence by the Government of India in IAI’s capabilities. We continue to stand with our partners in India at the forefront of technology for the defense and security of both our countries.”

Weiss added the contract also “recognizes the professionalism of all of Israel’s defense industries.”

Boaz Levi, Executive Vice President and General Manager of Systems, Missiles & Space Group said, “Along with our partner in India, we will supply to the Indian Army an advanced, sophisticated and innovative system that will provide the best operational solution. This complex development, reflects technological innovation, creativity, vision and remarkable personal dedication of all those involved in the development of the system both in Israel and India.”

Prime Minister Benjamin Netanyahu’s office called the $2 billion deal “another expression of Israel and India’s expanding ties,” noting that Netanyahu “plans to pursue these ties further in the fields of water, agriculture, energy and more during Indian Prime Minister [Narendra] Modi’s visit” to Israel in July.

By: Aryeh Savir, World Israel News