$905 million: Israel Aerospace Industries on the verge of a mega deal in India

Israel Aerospace Industries (IAI) is on the verge of winning a contract worth approximately $905.7 million in India to convert six Boeing 767 passenger aircraft into refueling planes for the Indian Air Force. New Delhi has approved the Israeli company's proposal as the sole bidder in the tender, which also included Russian and European companies. Under the deal, if finalized, at least 30% of the work will be carried out in India, and the Indian partner is expected to be Hindustan Aeronautics Limited (HAL). IAI has extensive experience operating in India, and in March 2024 launched an Indian subsidiary in New Delhi – Aerospace Services India (ASI), which employs 50 workers, 97% of whom are Indian nationals. The deal is expected to be one of the largest ever signed between Israel and India. The largest deal to date was the sale of Barak 8 (MRSAM) systems to India in April 2017 for approximately $1.6 billion.