An Israeli arms firm on Wednesday ensured that India has called off a $500 million deal which had taken on the purpose to develop Spike anti-tank guided missiles and PM Benjamin Netanyahu expressed his “repentance” over the decision. PM Benjamin Netanyahu is about to visit the country and the cancellation of the deal was just ahead of it.
“Rafael has now received an official notification from India’s Defence Ministry concerning the cancellation of the Spike deal,” an unknown source has mentioned.
Spike, a powerful defence missile, widely being used by 26 countries, on the selection of India and Israel was also about to achieve this goal but unfortunately the selection of India on Israel become to nothingness.
“It should be emphasized that the cancellation was made prior to the signing of the contract and despite Rafael’s compliance with all the demands. Rafael regrets the decision and remains committed to cooperating with the Indian Ministry of Defence and to its strategy of continuing to work in India, an important market, as it has for more than two decades, to provide India with the most advanced and innovative systems,” the source has reported.
The company didn’t even mention the reason behind the cancellation of the deal with Israel. The cancellation of deal with Israel, occurred days before Netanyahu’s four-day visit, Rafael’s CEO would also be accompanying Netanyahu. According to the proposal, India had planned to acquire the ATGMs for the Army at a cost of $500 million. The defense ministry has been a strong following for the transfers of technology in obtain various weapons and other platforms from the foreign defense as part of its broad policy initiative to encourage domestic defense industry.
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