Indo-Israeli Joint Venture To Manufacture Drones In India
India’s Adani Enterprises and Israeli Elbit Systems have formed a joint venture to manufacture unmanned aerial vehicles (UAVs) in India.
According to the company, the new JV -- Adani-Elbit Systems India was incorporated on November 7 and will operate in the aerospace and defence manufacturing sector, Business Standard reported Tuesday.
"Adani Enterprises Limited and Elbit Systems Limited, Israel have incorporated a JVC namely, 'Adani-Elbit Advanced Systems India Limited' (AEASIL) on November 7, 2016 in the ratio of 51:49," the company informed the BSE in a regulatory filing.
"AEASIL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on November 7, 2016 and is yet to commence its business operations."
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