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.
Source- The Hindu