TEL AVIV: The multi-billion dollar India- Israel defence market is set to grow as a number of military and security related contracts are likely to be inked soon, sources here said, as Tel Aviv is ready for joint production and sharing of technical know-how.
"The financial year gets over in March and we expect a number of deals to be signed. Most of them are in the last negotiation stages," a source said.
Asked what kind of deals are to be signed, the source, said, "They are in various field from up gradation to specialised software, buying of equipments and others".
In the last few years, Israel has emerged as the second largest defence supplier to India after Russia and following the 2008 Mumbai attacks, Israel has become a major player in the homeland security arena too.
"You cannot ignore the fact that Israel has very high level of specialisation in such products. From buyer-seller relationship, we are now working jointly on research and development," another source said.
Defence trade with Israel includes buying of billions of dollars of military equipment including UAVs, missiles and command and control systems besides fire arms.
Sources said one of the main attractions of Israeli defence market was that Tel Aviv is ready to share its technical know-how and is ready for joint production.
The cooperation is not just on already developed projects but also which are futuristic.
It is not that India only needs Israel because Tel Aviv is also "pulling out all stops" to ensure that relations with India grows.