What is it? The size of the deal that India had placed with Israel’s state-owned defence contractor Rafael to buy Spike anti-tank guided missiles. It has now cancelled the order.
Why is it important? This is reportedly due to reservations on the part of the Israeli firm to fully transfer the technology as per the ‘Make in India’ provisions and the Indian defence ministry reportedly deciding to back state-owned Defence Research and Development Organisation, which has said it will develop a world-class missile within four years. Till then, Pakistani foot soldiers are likely to have an advantage over India’s as they possess portable anti-tank missiles that can strike Indian bunkers and tanks at a distance of 3-4 km, while India’s equivalent missile tanks have a range of 2 km. Read More…
Latest posts by Livemint (see all)
- Building India’s green finance ecosystem - June 20, 2018
- Will Opec meet end the long rally in global oil prices? - June 19, 2018
- Mint Primer: Why This Week’s Opec Meeting Matters For India - June 19, 2018