India, May 31 -- A pioneering Indian manufacturer of critical defence systems NIBE Limited, has announced receiving a significant export Purchase Order valued at $17.52 million from an Israel-based company.

A pioneering Indian manufacturer of critical defence systems NIBE Limited, has announced receiving a significant export Purchase Order valued at $17.52 million from an Israel-based company.

The order involves the manufacturing and supply of Universal Rocket Launchers with a range capability of up to 300 kilometres - a highly advanced technology being produced in India for the first time for the global market, Money Control reported.

The rocket launcher is considered as one of the advanced in the segment.

NIBE Limited says it stands...