IMI manufactured Uzi sub-machinegun 390 (R).
(photo credit: Reuters)
Despite growing defense ties between India and Israel, New Delhi announced that
a major Israeli defense exporter, Israel Military Industries Ltd., will be
blacklisted for a decade due to allegations of its involvement in a bribery
IMI was joined on the blacklist by Singapore’s Technologies
Kinetics Ltd., Switzerland’s Rheinmetall Air Defense and Russia’s Corporation
Defense as well as two Indian defense firms, the AsiaOne news site reported on
India’s Defense Ministry said law enforcement agencies collected
incriminating evidence of corruption among all six companies.
government-owned company, is the IDF’s main manufacturer of defense platforms
for land, sea and air forces, and has several international
Sources from the company told Globes
that India’s decision was a
serious financial blow that could remove it from one of the world’s most
profitable defense markets.
India’s Central Bureau of Investigation
accused all six companies of using improper methods to promote their chances of
The Finance Ministry is considering the option of
privatizing IMI, and will examine the effect of the Indian blacklisting on
future plans for the company, Globes
JPOST VIDEOS THAT MIGHT INTEREST YOU:
Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>