[India Defence] India is inching closer towards developing missile seekers in the country, with the help of Israel. The state-owned Bharat Electronics Limited (BEL) is expected to seal the deal with Israeli major Rafael Advanced Defence Systems this year, since the issues related to foreign equity are being finally resolved. According to BEL officials, the proposed joint venture to produce missile seekers with Rafael of Israel may come through soon since the Israeli firm is ready to hold a lower equity of 26 per cent in the venture. With the foreign equity cap of 26 per cent mandated by the Indian government, both the companies are re-arranging their business plans to make headway into the project.
Indian-Military.org:bel
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