Israel Aerospace Industries (IAI) and Kalyani Strategic Systems Ltd (KSSL) today signed a deal for setting up a facility in Hyderabad for maintenance of advanced air defence systems.

The two companies have also agreed on expanding their joint operations for development, manufacturing and marketing of precise ammunition systems, KSSL, a subsidiary of Bharat Forge Limited, said in a statement.

In February 2017, IAI had inked an MoU with Kalyani Strategic Systems to set up a joint venture to manufacture air defence systems for the Indian Air Force.

"This joint venture with IAI furthers the idea of Indian government's 'Make in India' initiative and will provide world class solutions including life-cycle support to Indian defence," said Baba Kalyani, Chairman and MD of Bharat Forge Limited, a part of the Kalyani Group.

IAI president and CEO Joseph Weiss said India has been a key market for his company and it will work closely with KSSL in line with the 'Make in India' initiative.

"We have been revamping all of our operations in India," he said.

Source:economictimes.indiatimes.com