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Friday, October 17, 2008

India invokes new code of business for deals with Israel

In light of unresolved bribery allegations against two of Israel's leading defense industries, the Indian defense ministry has instituted a new code of conduct for doing business with Israel.

According to media reports in India, New Delhi decided to issue the new and comprehensive guidelines out of fear that the corruption allegations will spoil the country's upcoming general elections.

According to the new guidelines, the Indian Navy will not be allowed to buy any more Barak anti-ship missiles for the time being and no new tenders will be issued to Israel Aerospace Industries (IAI) and Rafael Defense Systems in single vendor situations without a security cabinet decision backing the move.

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