February 20, 2017 6:16:28 am
Kalyani Strategic Systems Ltd (KSSL) and Israel Aerospace Industries (IAI) have entered into an MoU to strengthen the air defence systems. Under the Make in India initiative, the MoU, which was signed in Bengaluru last week, aims at setting up a Joint Venture Company (JVC) in India.
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“The joint venture will provide indigenously manufactured solutions in niche technology areas of defense sector, thereby furthering the Make in India initiative of the government,” said Baba Kalyani, chairman, Kalyani Group. Even though IAI’s defence wing has a long-standing relation with India, this will be a different area of focus.
“This collaboration brings together the manufacturing and technology excellence of two leading companies. We are hopeful of continuing partnership at KSSL and spread our footprint in India,” said Joseph Weiss, IAI’s President and CEO.
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