India cancels $500mn Israel deal to promote Indian missile
The Indian Defence Ministry has cancelled a $500-million deal aimed at acquiring Spike Anti-Tank Guided Missiles (ATGM) from Israel, in a bid to promote indigenously developed missiles. India's Defence Research and Development Organisation (DRDO) will now produce the Man-Portable ATGM within 3-4 years and will not require any transfer of technology, according to reports.