Israeli arms and ammunition market is booming. Its export of weapons, and defense systems reached a new record, amounting $9.2 billion in sales, according to data published by the Ministry of Defense.
Being the 7th largest exporter of weapons in the world, India has made a move to leverage Israel’s power. The Lohia Group has recently acquired an Israeli company, Light and strong Ltd, specializing in aerospace, and military carbon, glass fiber composite components production.
The strategic move is said to be fostering the company’s aim of becoming the prime supplier for global original equipment manufacturers (OEMs) in aerospace, and defense sector. The Group’s director, Anurag Lohia, told PTI that the procurement would “establish a firm international footprint for the group and in further growing new markets”.
He added “We believe this marks the beginning of our growth in this sector on a global scale. We will continue to look at other synergistic opportunities in this space towards our aim to be a key participant in the global defense and aerospace domain.”
Israeli company acquisition to further strengthen ‘Make in India’
Reinstating the Prime Minster Narendra Modi’s “Make in India” initiative, Lohia Group plans to capitalize Israel’s expertise and export it to American and European markets.
“With these facilities serving as a strategic base for customers in those markets, the Group will utilize Israel’s well-known prowess in aerospace R&D and engineering to leverage its expertise globally,” Lohia said.
The group is targeting to mark its footprint internationally, and dive deeper in the sector, widening its experiences and expertise. It also aims at counterbalancing the domination of global companies in the area of military, and equipments.
India’s exceeding dependence on Israel’s exports
India is one of the largest market for Israeli arms, with the Asia-pacific region culminating an increased sales altogether. India has been making continuous efforts to enforce its relationship with Israel in the past, which has proved to be substantial in building its aerospace and defense technology.
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