In order to buy 1,600 Spike anti-tank guided missiles from Israeli state, India has canceled a $500-million (Rs 3,177 crore) deal, according to Israeli state-owned defense company Rafael Advanced Defense Systems. As per the reports, India wasn’t eager on the contract as its military research body DRDO was functioning on creating its own anti-tank guided weapon.The deal was worth about $500 million and the announcement of its termination came to a couple of weeks prior to Israeli Prime Minister Benjamin Netanyahu is due to visit India. An Indian Defence Ministry spokesperson declined gave a statement on the termination.
“Rafael regrets the decision and remains committed to cooperating with the Indian Ministry of Defence and to its strategy of continuing to work in India, an important market, as it has for more than two decades, to provide India with the most advanced and innovative systems,” the company said.Nevertheless, India’s Defence Ministry said disjointedly, it had cleared a preparation to buy 131 Barak surface-to-air missiles built by Rafael. The 4.6-billion-rupee ($72 million) order follows up a prior purchase of Barak missiles, meant to protect navy vessels in opposition to sea-skimming missiles and aerial threats.