Mumbai, April 21 -- The partnership aims to establish a new Joint Venture Company (JVC) in India focused on developing advanced radar systems under the government's "Make in India" initiative.

The JVC will specialize in airborne maritime radar systems, fire control radar systems and other radar technologies designed for both airborne and land applications. According to the filing made by DCX Systems with the stock exchanges today, the venture underscores a long-standing relationship between the two entities and leverages complementary expertise in the radar and defense electronics space.

As per the agreement, ELTA Group will hold a 63% stake in the new entity and DCX Systems will hold the remaining 37%.

Initially, the board of the JVC ...