Union Government cancels Israeli missile deal worth $500-million

Posted on:21 Nov 2017 10:08:38
Union Government cancels Israeli missile deal worth $500-million
21 November 2017 Current Affairs: Indian Government decided to cancel a $500 million deal for procuring Spike ATGM (Anti-Tank Guided Missile) from Israel.

The $500 million deal to procure Spike ATGM form Rafael Advanced Defence Systems of Israel was expected to be signed after price negotiations completed last year.

Union Defence Minister, Nirmala Sitharaman wants that Man-Portable Anti-Tank Guided Missile (MPATGM) for the Indian Army should be indigenously developed and build by DRDO.

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