Firearms manufacturer Israel Weapon Industries and India-based private sector firm Punj Lloyd have begun to jointly produce a variety of small arms from the Israeli company’s product line, of which some are for use by Indian armed forces.
The new venture, named Punj Lloyd Raksha Systems, or PLR, was formally opened last week, and it’s expected to tap a solid chunk of India’s small arms market estimated at more than $5 billion.
PLR is the first private manufacturer of small arms in India that produces equipment for both use by the Indian defense forces and for export.
Expect more where this came from: Israel’s superior weapons technology is increasingly prized by India, and these joint initiatives help Modi upgrade India’s defense capabilities, deepen ties with Israel, and create new manufacturing opportunities at home in line with his “Make in India” initiative.
Meanwhile, Israel’s economic clout is helping it make friends with the other rising superpower in Asia. As new regulatory roadblocks hamper Chinese investment in the United States, Reuters reports that Chinese capital is finding a welcome home in Israel’s burgeoning tech sector:
Last year, Chinese investment into Israel jumped more than tenfold to a record $16.5 billion, with money flooding into the country’s buzzing internet, cyber-security and medical device start-ups. These investments surged in the third quarter just as the U.S. regulatory crackdown began to bite, Thomson Reuters data shows.
In contrast, Chinese bidders scrapped a record $26.3 billion worth of previously announced deals from the United States in 2016, the data shows.
Israel is preparing itself for a new era, and its progress in building links with the two emerging Asian superpowers is an important global story that mostly flies under the radar.