India’s Kalyani Group and Israel’s Rafael have partnered to produce Spike Anti Tank Guided Missiles in India. In this regard both the entities have formed a manufacturing Joint Venture and this move is considered to enlarge India Israel strategic co-operation. The manufacturing Joint Venture will be as per the Foreign Direct Investment guidelines which means that the 51 percent ownership stake in Joint Venture will hold by Kalyani Group. FDI proposal in this regard was cleared by the Defence Acquisition Council in October 2014 which was chaired by the Defence Minister Arun Jaitley. The FDI deal was worth 3,200 crore rupees and comprises order of 300 plus launchers & 8,000 plus Spike ATGM missiles.
Spike Anti Tank Guided Missiles (ATGM):
It is a Third generation, fire and forget, anti tank missile.Designed and developed by the Israeli company Rafael Advanced-Defense-Systems.In case of India’s requirement, there is need of about 40 Thousand missiles to equip the Indian Army’s 382 infantry battalions and 44 mechanised regiments.
Kalyani Group partners with Israel’s Rafael
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