India approves 10.51 billion dollar missile deal with Israel

India approves 10.51 billion dollar missile deal with Israel

Kolkata Correspondent,

Ahead of a possible visit of Prime Minister Narendra Modi to Israel later this year on the occasion of the 25th anniversary of diplomatic ties between the two countries, India has made a significant deal with Israel in the defense sector. Officials of Indian government said on Friday that the centre has cleared a Rs.17,000 cr ($ 10.51billion) deal for jointly developing with Israel a medium-range surface-to-air missile (MR-SAM) for the Indian Army. The proposal has already been approved by the Cabinet Committee on Security (CCS), headed by Prime Minister Narendra Modi.

The missile will be the latest in a series of SAM systems being jointly developed with Israel for the Navy and the Air Force.

The deal will be implemented by the Defence Research and Development Organisation (DRDO) and Israel Aircraft Industries (IAI).

According to a survey by Stockholm International Peace Research Institute (SIPRI) – an international think-tank that researches on conflict, armaments, arms control and disarmament, Israel had supplied 7.2 per cent of arms to India during the period of 2012 to 2016. India is the largest buyer of Israel’s weapons with a 41 per cent share of its exports.