After scrapping the $500 million Spike Anti Tank Missile Deal, the Indian government led by PM Narendra Modi is all set to re-look at the Spike Anti Tank Missile Deal with Israel after the visit on PM Benjamin Netanyahu.
Israeli PM, Benjamin Netanyahu’s current visit to India has brought forth many new deals and alliances between India and Israel. The two nations, India and Israel, are working towards strengthening their economic as well as security relationships, with new and improved deals and ties. This is the first visit by an Israeli PM to India in 15 years and Prime Minister Narendra Modi has left no stone unturned in making it a warm and welcoming one. The India-Israel relations have been depended on many mutually benefiting parameters.
Spike Anti Tank Missile Deal
The Indian Defence Ministry had recently cancelled the Spike Anti Tank Missile Deal, worth $500 million, as stated by Rafael, the state defence contractor from Israel. Netanyahu, on Wednesday, said that the government of India plans to re-launch the missile deal. This is one of the many new deals between the two countries, as a step towards deeper security ties. There has been no official confirmation by India on the missile deal, yet.
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India and Israel Working Towards Common Interests
Up until now, India and Israel have kept their ties at a low profile, majorly because India did not want to bring forth issues with the Arab countries. India depends on the Arab countries for oil and the ties with Israel could mean a loss on that front for India. With these newer and stronger ties, Israel has granted India an approval for the Indian energy companies to explore the options for oil and natural gas in the Mediterranean East region. The bilateral trade ties between India and Israel have thus been further strengthened. Israel also continues to be the biggest weapons supplier for India, along with the US and Russia.
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India and Israel have explored many economic, security and trade relations and Netanyahu’s visit to India is turning to be a very beneficial one, for both countries.