Indian, Israeli firms agree to joint development

Tata Advanced Systems, the defense arm of Indian industrial house the Tata Group, has agreed to cooperatively develop and manufacture advanced defense products in India, including missiles, unmanned aerial vehicles, electronic warfare systems and aerospace products with Israel Aerospace Industries (IAI).
Itzhak Nissan, IAI president and chief executive, and Tata Group Chairman Ratan N. Tata signed the agreement in Tel Aviv, according to a May 13 statement.
India's UAV needs are met by a variety of UAVs from IAI. The Indian defense forces have a market of more than 200 UAVs. IAI is also involved in India's advanced cruise missile project and air defense projects.
Sources in the Tata Group said the two companies have plans to cooperate in the development of military satellites. The sources said cooperation between the two could reach revenues of $10 billion.
Sources in the Tata Group added that the IAI-Tata tie-up could convert India into a major defense hub in this part of the world.
Source: www.defensenews.com