Rafael of Israel and Kalyani group are setting up a joint venture (JV), Kalyani Rafael Advanced Systems, to build weapon systems in India. It could start with the production of Spike Anti-Tank Guided Missile (ATGM) which the Indian Army is in the process of procuring.
However the final deal for Spike is yet to be cleared and contract negotiations are currently underway. The Rs.3,200 crore deal for the ATGMs was cleared in 2014 by the Defence Acquisition Council chaired by Defence Minister Arun Jaitley which put an end to uncertainty after the U.S. offer of joint production of Javelin missiles.
Under a tripartite agreement the JV is expected to manufacture sub-assemblies and Bharat Dynamics Limited (BDL) will do electro optics and do hot integration at its Hyderabad facility which currently manufactures French Milan ATGMs.
- As per Foreign Direct Investment (FDI) norms in defence the Kalyani group will hold 51 percent stake with Rafael holding the rest
So lets do :
- Who is the Defense Minister of india?
- Who is Israeli prime minister?
Source – The Hindu