India Poised To Finalise Rs 1 Lakh Crore Submarine Deals To Strengthen Naval Power

(MENAFN- KNN India) New Delhi, Sep 1 (KNN) India is preparing to finalise two major submarine procurement projects worth over Rs 1 lakh crore, aimed at boosting the Indian Navy's underwater combat strength.

These agreements are considered critical to enhancing India's maritime security and countering the growing Chinese presence in the Indian Ocean.

The first deal, estimated at Rs 36,000 crore, involves the purchase of three additional Scorpene-class submarines under Project-75. The vessels will be built jointly by Mazagon Dock Shipbuilders (MDL) and France's Naval Group.

Although approved by the Defence Ministry more than two years ago, the project has faced delays due to pending technical and commercial clearances.

The second project, even larger in scale, is the acquisition of six next-generation diesel-electric stealth submarines under Project-75 (India), or P-75(I).

This initiative, valued at about Rs 65,000 crore, was cleared in 2021 but remains in the negotiation phase. Defence officials expect the contract to be finalised within six to nine months.

Combined, the two contracts represent one of the largest defence procurements under India's“Make in India” initiative. The submarines are expected to provide the Navy with advanced stealth, surveillance, and strike capabilities, making them central to India's long-term maritime strategy.

While the Scorpene extension deal is nearing completion, the P-75(I) negotiations will likely take more time due to cost and technical discussions. Both agreements are projected to be sealed by mid-2026, marking a significant milestone in India's effort to modernize its naval fleet.

(KNN Bureau)

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