Israel Aerospace Industries, Ltd. (IAI) and Kalyani Strategic Systems Ltd. (KSSL), the defence arm of Kalyani Group, signed a Memorandum of Understanding (MOU) to incorporate a Joint Venture Company (JVC) in India. As part of the MOU, IAI and KSSL are aiming to expand their presence in the Indian defence market and to build, market and manufacture specific Air defence Systems and light weight special purpose munitions.
The MOU was signed in Bangalore, India, at the Aero-India exhibition, by Joseph Weiss, IAI’s President and CEO and Baba Kalyani, Chairman Kalyani Group.
The MOU is the first step of a process to establish a JVC between the two companies. The JVC will integrate strategic state-of-the-art defence systems for the Indian MOD in accordance with the Indian Government’s ‘Make in India’ policy.
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”.
Baba Kalyani, Chairman Kalyani Group, said: “The joint venture company will combine IAI’s advance 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”.
Boaz Levi, Executive Vice President and General Manager of Systems, Missiles & Space Group, said: “IAI 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”.
Rajinder Singh Bhatia, President & CEO, Defence & 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”.
Kalyani Strategic Systems, Ltd. (KSSL) is the principal company of the Kalyani Group formed for undertaking defence & aerospace business initiatives by leveraging the Groups’ renowned and distinguished design, engineering and manufacturing expertise. Kalyani Group is a multinational conglomerate with high technology, engineering and manufacturing capability across critical sectors such as defence & Aerospace, Engineering Steel, Automotive, Industrial, Renewable Energy, Urban Infrastructure and Specialty Chemicals. With end-to-end capability and global manufacturing footprint, the group has been a flag-bearer of ‘Make in India’ across sectors including defence and Aerospace.
