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NEW DELHI, Feb 7: India and Israel have signed their first joint weapons development agreement under which both states will work on a new generation Barak II ship borne anti-missile-missile point defence missile system.
Israel and India will share the initial $330 million investment in the system.
The contract was signed on Jan 27, after 17 months of negotiations, but was only announced Feb 7, due to political reasons.
Israel Aircraft Industries Ltd (IAI) is the Israeli partner in the programme and the Defence Research and Development Laboratories (DRDL) is the Indian partner.—Online
