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Tuesday, 23 May 2017

Israel aerospace industries signs $630 million deal with India


Israel Aerospace Industries (IAI) has closed another major deal worth 630 million US dollar with India to supply advanced long-range air and missile defense systems for four ships of the Indian Navy. According to State-owned IAI, the contract is for supplying Long Range Surface to Air Missile (LRSAM) systems.

The LRSAM is a joint development by IAI and India’s Defence Research and Development Organisation (DRDO). The system provides the ultimate protection against a variety of aerial, naval and airborne threats. The deal, a major boost to the ‘Make in India’ campaign.

    Static Takeaways for BOB PO Exam-
    • Mr. Joseph Weiss is the President & CEO of IAI
    • Israel Aerospace Industries was established in 1953 as Bedek Aviation Company.
    • Israel is the Country in the Middle East and its Capital is Jerusalem.

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