Israel, India Close to Sealing $500 Million Deal on Spike ATGM
India and Israel are close to signing a deal for Spike Anti-Tank Guided Missiles worth an estimated USD500 million. The deal includes over 8,000 missiles, more than 300 launchers, and technology transfer
IsraelDefense
| 13/06/2017
India and Israel are close to signing a deal for Spike Anti-Tank Guided Missiles (ATGM) worth an estimated USD500 million. The deal is expected to be discussed next month when Indian Prime Minister Narendra Modi visits Israel.
The purchase of Spike missiles was approved by the Defense Acquisition Council (DAC) in October 2014, but negotiations on the contract ran into trouble over cost and technology transfer. “The Spike deal is not yet sealed, but it is almost done. We expect to conclude it very soon,” an official was quoted as saying by The Hindu Sunday.
The deal includes over 8,000 missiles, more than 300 launchers, and technology transfer. Further, the deal is likely to expand as the Army aims to equip its 382 infantry battalions and 44 mechanized regiments with new missiles.
The move is the latest in a series of mega defense contracts that were approved recently. According to information presented in Parliament by Minister of State for Defense Subhash Bhamre in March, during 2015-16 and 2016-17 (till February 2017), 37 contracts have been signed with vendors of various countries for capital procurement of defense equipment. Seven contracts have been signed with Israel, keeping it second to the US with whom nine contracts have been signed.
[Source: Defense World]
India and Israel are close to signing a deal for Spike Anti-Tank Guided Missiles worth an estimated USD500 million. The deal includes over 8,000 missiles, more than 300 launchers, and technology transfer
India and Israel are close to signing a deal for Spike Anti-Tank Guided Missiles (ATGM) worth an estimated USD500 million. The deal is expected to be discussed next month when Indian Prime Minister Narendra Modi visits Israel.
The purchase of Spike missiles was approved by the Defense Acquisition Council (DAC) in October 2014, but negotiations on the contract ran into trouble over cost and technology transfer. “The Spike deal is not yet sealed, but it is almost done. We expect to conclude it very soon,” an official was quoted as saying by The Hindu Sunday.
The deal includes over 8,000 missiles, more than 300 launchers, and technology transfer. Further, the deal is likely to expand as the Army aims to equip its 382 infantry battalions and 44 mechanized regiments with new missiles.
The move is the latest in a series of mega defense contracts that were approved recently. According to information presented in Parliament by Minister of State for Defense Subhash Bhamre in March, during 2015-16 and 2016-17 (till February 2017), 37 contracts have been signed with vendors of various countries for capital procurement of defense equipment. Seven contracts have been signed with Israel, keeping it second to the US with whom nine contracts have been signed.
[Source: Defense World]
