DCX Systems Limited has entered into a Joint Venture Agreement with IAI’s ELTA Systems Limited, Israel, and its group companies on April 21, 2025.
The joint venture aims to establish a company in India to conduct business in:
Airborne Maritime Radar Systems
Fire Control Radar Systems
Other Radar Systems for Airborne and Land applications
This initiative is under the 'Make in India' projects.
DCX Systems will hold 37% of the shareholding in the JVC, while ELTA Group will hold 63%.
ELTA will provide an exclusive technology license to the JVC for 'Make in India' projects, excluding G2G and G2C projects.
Initially, the JVC's board will have 4 directors (3 from ELTA, 1 from DCX). Upon full investment by DCX, it will increase to 5 directors (3 from ELTA, 2 from DCX).
The CEO and CFO of the JVC will be nominated by ELTA, subject to board approval.