Government officials associated with the approval of the deal said Israel has been informed about the contract being abandoned in favour of DRDO, which claimed that it was developing a similar missile at a lower price in partnership with VEM Technologies Ltd.
INDIA HAS scrapped a $500-million deal with Israel for the purchase of Spike anti-tank missiles from defence contractor Rafael Advanced Defense Systems after indigenous developer Defence Research & Development Organisation (DRDO) claimed that it could deliver an alternative within two years.Read More…
