Hyderabad, Dec 01 (ANI/Business Wire India): Astra Microwave Products Ltd, India's leading provider of microwave wireless technologies used in defense, space, and telecommunications, today announced that the company has won an order worth Rs. 570 million from Israel's ELTA Systems Ltd.
A group subsidiary of Israel Aerospace Industries, ELTA is a world leader in electromagnetic sensors-based advanced defense systems for radar, electronic warfare, and communications.
The order is for the supply of microwave wireless sub-systems for India's defense radar program. The contract is effective from November 2008 to mid-2010.
The order from ELTA is Astra's first contract under the offset obligations clause of India's Defence Procurement Policy, 2006. The offsets clause mandates that 30 per cent of all defense contracts worth Rs. three billion and above must be invested in the Indian defense industry by way of sourcing components, sharing technology, setting up training facilities, or using IT services.
"The ELTA contract showcases Astra Microwave's global technological capabilities and scale of operations to meet the demand from obligations mandated by the Defence Procurement Policy," said B Malla Reddy, Managing Director, Astra Microwave.
"Offset obligations are a significant opportunity for manufacturers and technology providers in the Indian defense space. Our proven technological expertise, infrastructure, and processes are a strong positive differentiator with global defense suppliers. Going forward, we are confident of forging many such relationships," Reddy added.