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Sunday, March 14, 2010

Israel eyeing big defense contracts in India

Il-76 PhalconIsraeli defense industries are hoping for multi-million dollar contracts in India after New Delhi recently increased its defense budget for the coming year by 4 percent to a whopping $32 billion.

Rafael Advanced Defense Systems is preparing to increase its staff in New Delhi to four full-time employees in place of the single worker currently stationed there.

It is also waiting for expected approval from the Israeli and Indian governments to establish a joint venture with India’s Bharat Electronic Ltd., which will provide it with a foothold in the country.

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