Reports have it that the Defense Research and Development Organization (DRDO) and Israel Aerospace Industries (IAI) will jointly build 16 launchers and 560 missiles, including the Barak-8 mid-range missile system.
Israel Aerospace Industries, a defense company in Israel, has received the contract to supply mid-range advanced missile systems to India in what is being called ‘the largest defense contract between the two countries’.
Apart from this, there has also been an agreement for the installation of this missile system in 40 INS Vikrant aircraft carriers.
This defense agreement of worth $2 billion was finalised before Prime Minister Narendra Modi visited Israel, and is believed to be crucial in strengthening the bilateral defense strategic partnership between the two countries.
Earlier in February, the Cabinet Committee on Security, under supervision of PM Modi, had approved the missile defense system project. It will cost Rs 16 thousand 830 crore.