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October 25, 2018 9:18 am

Israel Seals $777 Million Defense Deal With India

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Israeli PM Benjamin Netanyahu shakes hands with his Indian counterpart Narendra Modi ahead of their meeting at Hyderabad House in New Delhi, Jan. 15, 2018. Photo: Reuters / Adnan Abidi. – Israel Aerospace Industries clinched a $777 million with the Indian navy to supply LRSAM air- and missile-defense systems to seven ships.

The system is part of the Barak 8 weaponry used by the Israeli navy.

The massive deal brings Barak 8 sales to more than $6 billion, according to the IAI.

Last year, IAI secured another deal with India’s army and navy to supply almost $2 billion worth of missile-defense systems, followed by another $630 million contract to supply Barak 8 surface-to-air missile systems to four Indian ships.

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“Congratulations to Israel Aerospace Industries (IAI) and the defense establishment on the huge transaction involving the sale of Barak 8 to India,” Defense Minister Avigdor Lieberman tweeted on Wednesday.

“This is further proof that security is an investment and not an expense. IAI is a national asset that we need to protect and strengthen.”

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