Israel Aerospace Industries (IAI) and Kalyani Strategic Systems Ltd. (KSSL), the defence arm of India's Kalyani conglomerate, have signed a Memorandum of Understanding (MoU) to incorporate a Joint Venture Company (JVC) in India.
Under the agreement, IAI and KSSL are aiming to expand their presence in the Indian defence market and to build, market and manufacture specific air defence systems and lightweight special purpose munitions.
The MoU was signed at the show by Joseph Weiss, IAI's President and CEO and Baba Kalyani, Chairman Kalyani Group. India is already one of IAI’s leading markets, and the company aims to spread its footprint through the new venture, says Weiss.
The JVC will integrate strategic state-of-the-art defence systems for the Indian MOD in accordance with the Indian Government’s "Make in India" policy.
Also at the show, IAI and India's Dynamatic Technologies Ltd (DTL) announced their cooperation to jointly address the needs of the Indian unmanned aerial vehicle (UAV) market. The two companies have signed a cooperation agreement regarding the production, assembly and support of mini UAVs in India.
The agreement encompasses the transfer of technology and production capabilities from IAI to DTL to enable the indigenous capability for mini UAV systems for the benefit of Indian end-users and in support of "Make in India". This agreement is seen as a foothold for broader collaboration between the parties in the field of UAVs in India.