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Kalyani Strategic Systems Limited (KSSL), the defence arm of Kalyani Group, and Israel Aerospace Industries (IAI) signed a Memorandum of Understanding (MOU) to incorporate a joint venture company (JVC) in India.
The MoU was signed in Bengaluru at Aero India, by Joseph Weiss, IAI’s President and CEO and Baba Kalyani, Chairman, Kalyani Group.
PartnershipAs part of the MoU, IAI and KSSL aim to expand their presence in the Indian defence market and to build, market, and manufacture specific air defence systems and ground-to-ground and ground-to-sea munitions.
The MoU is the first step of a process to establish a JVC between the two companies. The JVC will integrate strategic defence systems for the Indian Ministry of Defence (MoD) in accordance with the Centre’s ‘Make in India’ policy.
Baba Kalyani, speaking after signing the MoU, said: “The joint venture company will combine IAI’s advanced technology, knowledge and experience as an OEM with world-class design, development and manufacturing capabilities of the Kalyani Group. The joint venture will provide indigenously manufactured solutions in niche technology areas of defence sector, thereby furthering the ‘Make in India’ initiative of the government.”
‘Make in India’Joseph Weiss, IAI’s President and CEO, said: “We are excited to announce the next step in our partnership in India, one of IAI’s leading markets. This collaboration brings together the manufacturing and technology excellence of two leading companies and we hope we can continue with our partners at KSSL to spread our footprint in India and to continue our vast work with the ‘Make in India’ policy”.
Rajinder Singh Bhatia, President and CEO (Defence and Aerospace), Kalyani Group, said: “Kalyani Group’s manufacturing competence is well suited to complement IAI’s products in niche segments. Together, we shall provide the most advanced solutions to our armed forces”.
Boaz Levi, Executive Vice-President and General Manager of Systems, Missiles & Space Group, said: “IAI’s missiles and space Group has long relations in the Indian defence forces and industries, and we are happy to join hands with Kalyani Group, one of India’s leading companies to explore future opportunities for both countries strength”.
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