The Indian army has finalised a deal worth about 40 million dollars with the Israel Military Industries (IMI) for the upgradation of its Russian-made rocket systems, according to Israeli media reports.

'No change in ties with Israel'

"The initial deal is worth 30-40 million dollars, but could expand to as much as one billion dollars over five years," IMI Chairman, Brig-Gen (Retd) Arie Mizrachi told Globes Online.

India Israel ink the Phalcon deal  

The deal was signed recently and involved upgradation of Russian-made rockets with Israeli technology to improve their precision and range, the report said.