Report: India suspends IMI contracts
Arie Egozi
The Israel Military Industries (IMI) have recently been blacklisted by the Indian government, as all arms trade with the southern Asian nation has been halted, putting billions of dollars worth of defense contracts at risk.
[YNET] - New Delhi news agencies say Israel Military Industries, six other arms manufacturers, blacklisted for alleged illicit trading, bribing officials. Billions of dollars worth of defense contracts in jeopardy
Arie Egozi
The Israel Military Industries (IMI) have recently been blacklisted by the Indian government, as all arms trade with the southern Asian nation has been halted, putting billions of dollars worth of defense contracts at risk.
According to Indian news agencies, New Delhi has censured seven arms manufacturers for alleged illicit trading and bribery, effectively halting all of its deals with them, IMI included.
New Delhi has been cracking down on the corruption plaguing its deals with foreign industries for several years. The current blacklist, however, is the first of its kind.
The Indian Defense Ministry announced that all contracts with the seven suspected companies were to be suspended pending the result of its inquiries.
Defense establishment officials expressed concerns over the situation, but a spokesperson for IMI said the company was not familiar with the reports in the Indian media.
Arms trading between Israel and India began in the early 1990s, with deals amounting to $8 billion to date. Israel is considered to be India's second biggest arm supplier after Russia.
