"In a mega-contract worth over $1.6 billion, considered to be the largest contract in Israel defence industries' history, IAI will provide an advanced MRSAM air and missile defence systems to the Indian Army," IAI said in a statement.
"The company will also supply additional Long Range SAM air and missile defence systems for the first built in India aircraft carrier," it said.
IAI President and CEO Joseph Weiss said: "Over the past 25 years, IAI has worked with the Indian defence industries and armed forces in many areas as part of our strategic partnership. The current contracts represent an enormous expression of confidence by the Government of India in IAI's capabilities and advanced technologies which are being developed with our local partners as part of the Indian Government's 'Make in India' policy."
"This contract award also recognises the professionalism of all of Israel's defence industries. We at IAI are proud to be leading this flagship project after a long and joint development process."
The first delivery of the missile system is expected in 2023.
The missile system will reportedly be developed jointly by India’s Defense Research and Development Organization in collaboration with Israel.
Israel has been supplying India with various weapons systems, missiles and drones over the past few years, making India one of Israel’s largest buyers of military hardware.
Israel has signed around $10 billion worth of military contracts with India over the past 15 years, according to Indian media.
India is also reportedly set to receive 10 Israeli Heron-TP armed drones worth about $400 million.
