• Monday, August 15, 2022

Business

Israel’s IAI Wins £601.18 Million Indian Missile Defence Order

The deal with India to supply the marine version of the Barak 8 air and missile defence system for seven more warships follows a $630 mn order placed last year (Photo: SAM PANTHAKY/AFP/Getty Images).

By: Radhakrishna N S

Israel Aerospace Industries (IAI) said Wednesday (24) it won a £601.18 million ($777m) order from India to buy defence systems for its navy. The deal with India’s state-owned Bharat Electronics Limited to supply the marine version of the Barak 8 air and missile defence system for seven more warships follows a $630 mn order placed last year. State-owned IAI, Israel’s largest defence firm, said worldwide sales of the Barak 8 system now totalled more than $6 billion. Israel is among the world’s top arms dealers, with nearly 60 per cent of its defence exports going to the Asia-Pacific region, according…

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