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Astra Microwave Products , India's leading provider of microwave wireless technologies used in defense, space, and telecommunications has won an order worth Rs 570 million (US$ 11.5 million) from Israel's ELTA Systems. A group subsidiary of Israel Aerospace Industries, ELTA is a world leader in electromagnetic sensors-based advanced defense systems for radar, electronic warfare, and communications.
The order is for the supply ELTA with microwave wireless sub-systems for India's defense radar program. The contract is effective between November 2008 and mid-2010. The order from ELTA is Astra's first contract under the offset obligations clause of India's Defence Procurment Policy, 2006. The offsets clause mandates that 30% of all defense contracts worth Rs 3 billion and above must be invested in the Indian defense industry by way of sourcing components, sharing technology, setting up training facilities, or using IT services.
The company made this announcement during the trading hours today, 01 December 2008.
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