- Kalyani group will form a manufacturing joint venture with Israel’s Rafael to make Spike Anti-Tank Guided Missiles (ATGM) in India.
- The deal was cleared by the Defence Acquisition Council last year and the plan is to start production in about 2 years.
- 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.