Defence Industry
An allocation of almost $ 18 billion, under what is called the ‘Capital head’ of its budget, is the largest increase in 15 years when calculated on an year-on-year basis. It also almost doubles the allocation within past four years. In the budget presented in February 2017 the allocation was Rs 69,473 Crore ( approx $ 9.26 billion).
The ‘green channel status’ will apply for major Naval weapon delivery systems, ordered by the Ministry of Defence and cements the status of the L&T defence as long term supplier. The company is into engineering, procurement and construction projects, manufacturing, defence and services conglomerate.
IDD Bureau Israel Aerospace Industries Ltd. (IAI) has appointed Boaz Levy as its new Chief Executive Officer (CEO). A decision was made by the Board of Directors, chaired by Harel Locker following a search committee’s recommendation to nominate Levy who succeeds Maj. General (retd.) Nimrod Sheffer, who stepped down as CEO on October 31, 2020.
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