CTech – Israeli government-owned defense contractor Israel Aerospace Industries Ltd. (IAI) has entered into $93 million in agreements to provide India with naval medium-range surface-to-air missile (MRSAM) systems, IAI announced Wednesday. The contracts were entered into with the Indian Navy and Bombay-listed government-owned company Cochin Shipyard Ltd.
In October, IAI signed a $777 million contract with Indian state-owned company Bharat Electronics Limited (BEL) to supply it with long-range surface-to-air defense missiles and missile defense systems.
To date, MRSAM has produced more than $6 billion in sales, according to IAI statements.
Israel is the third largest arms supplier to India, according to a 2017 arms transfer report by the Stockholm International Peace Research Institute (SIPRI). Between 2013 and 2017, India made up 49 percent of Israel’s arms exports, the report showed.
Founded in 1953, IAI is Israel’s largest aerospace and defense company. The company develops, manufactures, and supplies systems including anti-missile systems, unmanned and robotic systems, and intelligence and cybersecurity systems.