India's Kalyani Group and Rafael Advanced Defense Systems of Israel are forming a joint venture company to develop and produce high-tech systems in India.
Those systems would include missile technology, remote weapon systems and armor solutions.
"Kalyani Group has been at the forefront in initializing the [government's] 'Make in India' campaign," said Baba Kalyani, chairman and managing director of the group. "As part of this campaign, we aim to develop and produce high-end technology systems and expand the defense industry base in our country."
Added Ret. Vice Adm. Yadida Yaari, chief executive officer of Rafael: "We see Kalyani Group as an ideal partner for expanding our business opportunities in India. We have supported and will continue to support the Indian Ministry of Defense in gaining technological superiority to technological excellence.
"Rafael is well aware of the 'Make in India' policy, and the JV with Kalyani Group is a firm commitment in that direction."