India’s Reliance Defence has entered a strategic partnership with Israel-based Rafael Advanced Defence Systems to jointly develop modern weapon systems.

Valued at $10bn, the new project will focus on domestic production of air-to-air missiles, air defence systems and large aerostats in India.

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Work will be carried out at Dhirubhai Ambani land Systems Park for ultra-modern weapon system, Indore, Madhya Pradesh, India.

"The new entity will offer the entire range of specialist products in these fields to the Indian Armed Forces."

The company said that Rafael will offer solutions through the joint venture company for the ongoing ‘Buy Global’ programmes.

Rafael is currently competing in line with ‘Make in India’ initiatives of the Indian Government.

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According to current guidelines of the Government of India, Reliance Defence will hold a 51% share in the JV, and the remaining 49% will be held by Rafael.

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The new entity will offer the entire range of specialist products in these fields to the Indian Armed Forces.

A market leader in the air-to-air missile segment with products such as Python and Derby, Rafael’s air defence systems product suite includes a number of short and medium-range missiles.

Previously, Rafael has provided airborne warning and control system (AWACS) to the Indian Air Force (IAF) for its surveillance, reconnaissance, communication and intelligence needs.