Friday, July 07, 2017

Israel Aerospace, Kalyani to jointly build, maintain missiles in India

New Delhi: Kalyani Strategic Systems Ltd (KSSL), a subsidiary of Bharat Forge Limited, will expand its partnership with Israel Aerospace Industries (IAI). The two companies signed a memorandum of understanding (MoU) on this as part of Prime Minister Narendra Modi’s visit to Israel earlier this week.
The new MOU covers the establishment of a maintenance centre for select advanced air defence systems in Hyderabad. The two companies have also agreed on expanding their joint operations for development, manufacturing, and marketing of precision ammunition systems. In February 2017, IAI had inked an MOU with KSSL on establishing a joint-venture that will develop, build, market, and manufacture select air defence systems and light-weight special-purpose munitions, in accordance with the Indian Government's 'Make in India' policy.
Bharat Forge Limited Chairman and MD Baba Kalyani said, "It augments the group's efforts in developing and manufacturing state-of-the-art indigenous systems in niche technology areas of defence sector in India."
IAI President and CEO Joseph Weiss said, "India has been IAI’s partner for many years as well as a key market for us. The Indian government's 'Make in India' initiative requires international companies to rethink their operations in India. The changes in India have not gone unnoticed by IAI. We have been revamping all of our operations in India and believe that together with our partners in the Kalyani group, we will preserve our position in India for both countries' continued growth."
06/07/17 Business Reporter