Aerospace Daily & Defense Report Feb 18 , 2010 , p. 06 Neelam Mathews NEW DELHI — Israel’s Rafael Advanced Defense Systems is in negotiations with Indian public sector company Bharat Electronics Ltd. (BEL) concerning a joint venture program to produce advanced imaging infrared seekers for the Python 5 missile. “The ultimate solution is forming joint ventures,” Rafael Chairman Ilan Biran says. The joint venture with BEL may take a few months, as Rafael has requested that the Indian government increase the Foreign Direct Investment limit from 26 percent to 49 percent. Other issues to be determined include the scope of the project and its market assessment. However, investment is not an issue, BEL Chairman Ashwani Kumar Datt told Aerospace DAILY this week at the land and naval systems DefExpo here. India has ordered 18 Spyder systems that use advanced air-to-air missiles as ground-launched surface-to-air missiles. Besides the Python 5, it has the Derby beyond-visual-range missile, whi...