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India’s Bharat Electronics Limited inks $630M Deal with Israel

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Bharat Electronics Limited
Bharat Electronics Limited

India’s Bharat Electronics Limited have inked a $630 million contract with Israel.

SAN FRANCISCO (Diya TV) — Indian state enterprise Bharat Electronics Limited have inked a $630 million with Israel Aerospace Industries to jointly produce four long-range surface-to-air missile systems for the Indian Navy.

“Yes, a contract was signed May 19 in Bangalore for [LRSAM] systems. However, work share and other commercial details are confidential and cannot be shared,” Bharat Electronics Limited’s marketing director, Anandi Ramalingam, said. “BEL will start delivering the [LRSAM] systems from early 2020, onwards.”

Per the terms of the agreement, Bharat Electronics Limited will produce a major portion of the multifunction active electronically scanned array naval radar system, or MF-STAR, and the rest of the weapon control systems, Ramalingam added.

The Indian company will also be responsible for carrying out system integration and commissioning activities.

In a press release issued Monday, Israel Aerospace Industries announced it was awarded “an additional, $630 million contract for supply of LRSAM air and missile defense systems for four ships of the Indian navy. The contract will be carried out, for the first time, with Indian government company Bharat Electronics Limited (BEL), which serves as the main contractor in the project as part of India’s ‘Make in India’ policy.”

Israel Aerospace Industries president and chief executive Joseph Weiss offered: “The new contract adds to other deals signed in the last decade by IAI with India’s defense forces, reinforcing IAI’s global leadership position in air and missile defense systems. The inclusion of Indian governmental company BEL for the first time, is a step up in our relationship with the Indian industry as part of the ‘Make in India’ policy.”

The LRSAM system is meant for both Indian and Israeli defense forces. Each unit comprises one command and control system, an MF-STAR radar system and two launchers that can send eight 150-kilometer-range radio frequency surface-to-air missiles simultaneously. The system also provides 360-degree coverage.

“Prior to signing the contract, the System was successfully tested last week in India as part of operational interception trial aboard India’s navy ship, demonstrating again the [LRSAM] System’s operational capabilities in a representative scenario with genuine target,” the IAI release read.

During the trial launch, the missile in midair “engaged the target, aligned its course, hit it and destroyed it,” IAI said. “All components of the weapon system have successfully met the goals set to them.”

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New Zealand eliminates India in cricket World Cup

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New Zealand wins Cricket

MANCHESTER, England (Diya TV) — After a rain delay stopped play between New Zealand and India, when play resumed, the Kiwis held on to win by 18 runs, knocking India out of the Cricket World Cup. It’s on to the championship round for New Zealand.

The United States Immigration and Customs Enforcement (ICE) raided an Indian restaurant in Washington DC, detaining several employees.

Airbnb, the Silicon Valley couchsurfing startup turned hospitality behemoth, says they made a direct economic impact of around $150 million in India in 2018.

Indian Airbnb hosts collectively made almost $28 million and welcomed nearly 800,000 guests last year. 

Chennai-based speech recognition startup, Uniphore Software Systems, raised $38 million as part of its Series C round. They’ve received funding from California venture capital firm March Capital Partners and former Cisco CEO John Chambers. 

And Indo-Australian Priya Serrao was crowned Miss Universe Australia 2019.

The 26-year-old policy advisor from the state of Victoria said she will use her new platform to promote multiculturalism. 

Ravi Kapur contributed to this report.

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Trump says tariffs by India are ‘No longer acceptable’

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Tariffs no longer acceptable

WASHINGTON (Diya TV) — In a tweet, President Trump targeted India once again, saying “India has long had a field day putting Tariffs on American products. No longer acceptable.”

Yet earlier this year, the Trump administration stripped India of a preferential status that exempted billions of dollars worth of products from U.S. levies.

One of the most unique characters ever to run for President has died. Billionaire businessman Ross Perot was 89. Many give his independent campaign in 1992 credit for helping Bill Clinton beat incumbent George H.W. Bush.

A day after Democratic Congressman Eric Swalwell got out of the race, another billionaire businessman, Tom Steyer, jumped into the Presidential fray.

India’s OlaCabs recently launched its ride-sharing services in London. And now Ola Electric, their electric vehicle spinoff, just raised a $250 million Series B round at a $1 billion valuation. It plans to bring 10,000 vehicles to the road this year.

And the world will have to wait another day to find out who will play for the Cricket World Cup, after a rain delay stopped play between New Zealand and India.

Ravi Kapur contributed to this report.

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Trump meets Modi & Abe in Japan

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OSAKA, Japan (Diya TV) — President Donald Trump held a trilateral meeting with Indian Prime Minister Narendra Modi and Japanese Prime Minister Shinzo Abe. According to Ivanka Trump, the conversation encompassed 5G technology, working through details on trade and ongoing national security interests for each party.

From Japan, President Trump went to South Korea and entered the demilitarized zone between South Korea and North Korea. He then walked into North Korea to meet with Chairman Kim Jong Un, becoming the first sitting President to ever to enter North Korea.

Silicon Valley startup Fungible announced they’ve raised $200 million from a group of investors including Softbank, taking their total raise to $300 million. A leader in data-centric computing, Fungible is led by CEO Pradeep Sindhu, who previously founded Juniper Networks.

The NBA free agency signing period kicked off with a bombshell: Kevin Durant is leaving behind the team he won two championships with, The Golden State Warriors, for the upstart Brooklyn Nets. Kyrie Irving will join him there. The Warriors traded for the Nets player most impacted by those deals, D’Angelo Russell.

And England beat India by 31 runs in the Cricket World Cup, giving Team India its first loss of the Cup. India will face Bangladesh next.

Ravi Kapur contributed to this report.

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