$500 Million Missile Deal Between Israel And India Is Back On: Benjamin Netanyahu

19 Jan 2018 11:20 AM GMT
$500 Million  Missile Deal Between Israel And India Is Back On: Benjamin Netanyahu
Courtesy:�NDTV | Image Credits: NDTV,�Benjamin Netanyahu

Almost after 2 months of India cancelling the $500 million deal to buy the Spike anti-tank missiles from Israel’s state-owned defence contractor Rafael, Benjamin Netanyahu has said that the deal is back on.

Israeli newspapers Jerusalem Post reported that post Benjamin Netanyahu’s six-day visit to India and the renewal of the deal is considered to be a “major strategic achievement”, according to NDTV.

“India will buy Israel’s anti-tank spike missiles,” the paper quoted Prime Minister Netanyahu as saying after spending the day with Prime Minister Narendra Modi.

The paper quoted Benjamin Netanyahu saying that the final scope and details of the deal would be scrutinised soon.

Earlier, the Israeli firm, Rafael Advance Defence Systems Ltd, expressed “regret” for the deal being scrapped off.


What was the deal?

The $500 deal was to purchase 8,000 anti-tank missiles from Israeli defense firm Rafael. India selected the Rafael Spike missile system in 2014, choosing to contract with the Israeli government-owned defense firm rather than accept a US offer to purchase its Javelin system.

The deal saw Rafael Advanced Defense Systems open a production facility in India with its local partner in order to begin manufacturing the Spike missiles. Although, the deal was scrapped a couple months earlier.

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