India Officially Cancels $500-million Defense Deal With Israel


Less than two weeks before Prime Minister Benjamin Netanyahu is set to visit India, New Delhi has officially canceled a $500m. defense deal with defense-giant Rafael to purchase Spike anti-tank guided missiles.

“Rafael has received an official statement from the Indian Ministry of Defense on the cancellation of the Spike missile deal,” read a statement from the company, adding that it had been canceled before the signing of the contract and despite the company fulfilling all of the necessary requirements. “Rafael regrets the decision but is committed to continuing to pursue this important goal, as it has done with great success for over two decades, with a variety of innovative and advanced systems and with a commitment to the Indian Ministry of Defense,” it continued.

According to the company, the Spike was selected as a winner for the tender “after a long and lengthy process and according to all Indian procurement rules.” It added that the production facility the company opened in August with its local partner, industrial giant Kalyani Group near Hyderabad, will not be closed. Read More…

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