Israel's Rafael, India's Reliance in JV for air defense systems | Reuters

JERUSALEM State-owned Israeli defense contractor Rafael Advanced Defense Systems and India's Reliance Defense said on Tuesday they are setting up a joint venture in India to produce air to air missiles, air defense systems and observation balloons.

The companies will address programs valued at $10 billion over the next decade.

Reliance Defense, a unit of Reliance Infrastructure (RLIN.NS), will hold 51 percent of the joint venture and Rafael, one of Israel's largest defense firms, will hols the other 49 percent.

Rafael is a market leader in the air to air missile segment with products such as Python and Derby. Its air defense systems portfolio includes a number of short and medium range missiles.

Rafael has already provided large aerostat systems to the Indian Air Force for its surveillance, reconnaissance, communication and intelligence needs, the companies noted.

The joint venture will offer the entire range of products in these fields to the Indian armed forces, they added.

(Reporting by Steven Scheer)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Mar 29, 2016 19:15 PM

Also Watch

Watch: The true stories from Dharavi that inspired Rajinikanth's Kaala
  • Thursday, March 8, 2018 Watch: Cyrus Khan talks about Parkour, jumping across walls and why he hates sitting
  • Thursday, May 31, 2018 Unwind: India's basketball sensation Amjyot Singh has his eyes set on becoming an NBA regular
  • Monday, May 28, 2018 First Day First Showsha — Review of Solo: A Star Wars Story in 10 questions
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See