Israel signs USD 2 billion missile deal with India

Posted on:07 Apr 2017 19:00:20
Israel signs USD 2 billion missile deal with India
07 April 2017 Current Affairs: Israel has signed a USD 2 billion contract with India to supply it with missile defence systems, the state-owned Israel Aerospace Industries (ISI) said.

This contract is for supplying advanced medium-range surface-to-air missile systems (MRSAM) to India.

MRSAM's current version is operational with the Indian Air Force, Indian Navy and Israel Defence Forces (IDF). 

India is one of the largest importer of arms, with a 14% share in global imports between 2011 and 2015, according to the Stockholm International Peace Research Institute.

After Russia and the United States, Israel is the largest source of key defense equipment for India as well as in other areas, such as agriculture and water management.

IAI Chief Executive Officer (CEO): Joseph Weiss

Isreal President: Reuven Rivlin

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