State-owned Israel Aerospace Industries (IAI) has won an additional $777 million contract to supply LRSAM air and missile defence systems to seven ships in the Indian navy. The contract is with the Bharat Electronics Ltd (BEL), which is the main contractor in the project.
The LRSAM, part of the Barak 8 family, is an air and missile defence system used by Israel’s navy as well as India’s navy, air and land forces. With this deal, sales of the Barak 8 over the past few years total over $6 billion.
Source- The Livemint
Static/Current Takeaways Important For IBPS PO Mains Exam 2018:
- Israel Capital: Jerusalem, Currency: Israeli new shekel.