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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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Indian IT companies curb H-1B premium processing

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H1-B visa premium processing

MUMBAI (Diya TV) — Indian IT services companies are not racing to use a H1-B visa premium processing option as in years past due to a changing business model and higher rejection rates.

Google announced a $1 billion commitment to help alleviate Silicon Valley’s housing crisis, saying they will add about 20,000 homes. While the housing plan is welcomed, many critics are upset that Google is able to do this because they exploit tax loopholes to shelter billions of dollars in revenue.

PG&E, the California public utility blamed for igniting several wildfires caused by downed power lines that killed dozens and destroyed thousands of homes, agreed to pay $1 billion in damages to local governments.

Laxman Narasimhan will becoming CEO of consumer goods group Reckitt Benckiser this fall.

He was Chief Commercial Officer at PepsiCo.

And India’s lunar lander will launch this July for the moon, and will launch its first mission to study the sun in 2020. ISRO is also planning to have a space station for India by 2030.

Ravi Kapur & Alejandro Quintana contributed to this report.

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India blocks entry of a Palestinian rights group into the U.N.

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Modi blocks Palestinian Rights

WASHINGTON (Diya TV) — Israeli Prime Minister Benjamin Netanyahu thanked Indian Prime Minister Narendra Modi on Twitter for India’s support in blocking the entry of a Palestinian rights group into the UN.

The U.S. Chamber of Commerce’s U.S.-India Business Council held day one of the India Ideas Summit, convening government officials from the U.S. and India, as well as business executives and thought leaders from around the globe. Google CEO Sundar Pichai and NASDAQ CEO Adena Friedman won Global Leadership Awards respectively.

And U.S. Secretary of State Mike Pompeo spoke as well, highlighting what he hope to accomplish during his visit to India in a few weeks.

Warriors star forward Kevin Durant announced on Instagram he had successful Achilles tendon surgery in New York surrounded by family and friends. His team will square off against the Raptors tomorrow night for Game 6 of the NBA Finals. Diya TV will be there with pregame and postgame analysis.

And Ravi Kapur and Jonathan Choe will take you inside TD Garden in Boston where St. Louis Blues are looking for their first Stanley Cup and the Boston Bruins are looking to add to their collection.

Ravi Kapur & Alejandro Quintana contributed to this report.

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Trump calls 50% tariffs by India on US motorcycles unacceptable

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Indian Tariffs unacceptable

WASHINGTON (Diya TV) — President Trump said though India reduced import tariffs on American motorcycles from 100 percent to 50 percent, it is still too high and not acceptable to him.

The Michigan Board of Education voted to approve new social studies standards, which now include Sikhism for the first  time. The new standards will give more than 1.4 million public school students in Michigan context about the Sikh community.

In a list compiled by the New York Times, Palo Alto Networks CEO Nikesh Arora and j2 Global CEO Vivek Shah are two of the top ten highest paid CEO’s amongst U.S. publicly traded companies.

While Arista Networks CEO Jayshree Ullal, Syntel co-founder Neerja Sethi and Confluent co-founder Neha Narkhede are among the richest self-made women according to Forbes.

And Ravi Kapur and Jonathan Choe will recap an eventful night in Toronto, where the Golden State Warriors held off the Raptors in Game 5 of the NBA Finals, after losing their star Kevin Durant to an Achilles injury.

Ravi Kapur & Alejandro Quintana contributed to this report.

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