Israeli media reports said the deal was approved recently by the Indian Cabinet. Rafael will supply India with 18 SPYDER missile systems between 2011 and 2012.
The anti-aircraft system is a quick-reaction, low-level, surface-to-air missile designed to counter attacks by aircraft, helicopters, unmanned aerial vehicles and precision guided munitions, the Israeli company said.
The system's truck-mounted missile firing units carry four missiles on rotatable launchers. A standard missile battery contains up to six missile firing units per battery, the company said.
The system has a 360-degree engagement capability in all weather conditions, day or night, and can intercept incoming threats at a range of between 0.62 miles to 9.3 miles (1 to 15 kilometers).
Israel defense exports to India have reached $3 billion, making it the largest arms supplier to India, surpassing Russia, the Israeli newspaper Globes reported Thursday.