Indian firm to partner Israel for anti-tank missiles

  1. News: Rafael of Israel and Kalyani group are setting up a joint venture (JV)
  2. Production of: Spike Anti-Tank Guided Missile (ATGM) which the Indian Army is in the process of procuring
  3. Tripartite Agreement: JV is to manufacture sub-assemblies and Bharat Dynamics Limited (BDL) will do electro optics and do hot integration at its Hyderabad facility
  4. FDI norms in defence: Kalyani group will hold 51 percent stake with Rafael holding the rest
  5. Deal: Rs.3,200 crore deal for the ATGMs was cleared in 2014 by the Defence Acquisition Council chaired by Defence Minister
  6. Includes 8,000 plus missiles, 300 plus launchers and requisite technology transfer to the Indian entity which was initially supposed to be BDL
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