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India scraps $500 million Israeli missile deal
November 20, 2017
NEW DELHI, Nov 20 (INP) Asking the Defence Research and Development Organisation (DRDO) to indigenously develop and produce a Man-Portable Anti-Tank Guided Missile (MPATGM) for the Army, Indian Ministry of Defence (MoD) has decided to cancel the $500 million deal for Spike ATGM with Israel. The deal, seen as another proof of growing Indo-Israel defence cooperation, was expected to be signed after price negotiations with Rafael Advanced Defence Systems of Israel were completed last year. In anticipation of this deal, Rafael had entered into a joint venture with Kalyani group for missile production in India. The missile sub-systems manufacturing facility, based near Hyderabad, was inaugurated in August. INP/AH/LK
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