India invites greater participation from Israeli defence companies
27th July, 2020
Context:
India has invited greater participation from Israeli defence companies under the new liberalised foreign direct investment (FDI) regime in defence manufacturing.
Details:
In May 2020, the government increased the limit for FDI in defence through the automatic route from 49% to 74%.
Indian Armed Forces are undertaking a series of emergency defence purchases, including from Israel, amid ongoing tensions with China.
The decision has been taken by the Army to order another batch of 12 launchers and around 250 missiles of Spike Anti-Tank Guided Missiles (ATGM) and additional Heron Undermanned Aerial Vehicles (UAV), among others, from Israel through the emergency procurement route.