CURRENT AFFAIRS

Detailed explanation-1: -A leading state-run Israeli defence company has said it has signed a USD 777 million contract with India for the supply of Barak 8 long-range surface-to-air defence missiles and missile defence systems for the Indian Navy, media reports in Jerusalem said.

Detailed explanation-2: -UAVs manufacturing in India: The IAI and Hindustan Aeronautics Limited (HAL) have signed a joint venture whereby IAI will not only offer UAVs to India but also help HAL in manufacturing them in India.

Detailed explanation-3: -Israel has become the top exporter of arms to India after Russia. Israel Aerospace Industries, Elbit Systems and Rafael Advanced Defense Systems have sizable delegations in India, while a plethora of private companies have opened branches there.

Detailed explanation-4: -Saraswat told The Economic Times “More than 70 per cent of the content in the missile being developed with Israel would be indigenous.” The Indian Army ordered five regiments (40 launchers) of this version, which consists of 8 launcher vehicles each, and 200 missiles for ₹17, 000 crore (US$2.1 billion).