1. Kalyani group will form a manufacturing joint venture with Israel’s Rafael to make Spike Anti-Tank Guided Missiles (ATGM) in India.
2. The deal was cleared by the Defence Acquisition Council last year and the plan is to start production in about 2 years.
3. The JV will conform to the FDI guidelines with 51% ownership held by the Kalyani Group. The companies are in talks with the Telangana Govt. for land procurement.

Spike is a third generation, fire-and-forget, man-portable, anti-tank missile.