India Signs Rs 53,866 Crore Deal For 8 Advanced Navy Corvettes

The massive Rs 53,866.50 crore project is a big step forward for India’s homegrown warship design and building skills, the defence ministry said.

Big defence deal signed in New Delhi

Just days after the Cabinet Committee on Security gave its approval, the Ministry of Defence sealed the deal on Monday. The government signed contracts worth Rs 53,866.50 crore with two shipbuilders. Garden Reach Shipbuilders and Engineers Limited (GRSE) and Goa Shipyard Limited (GSL) will build eight next-generation corvettes for the Indian Navy.

A first of its kind project

This project stands out from earlier ones in one key way. For the first time, the Indian Navy itself will design these warships from scratch. Defence public sector undertakings, chosen through a competitive bidding process, will then build them. The defence ministry called this a major milestone for India’s shipbuilding ambitions.

Out of the eight corvettes, GRSE will construct five. GSL will take charge of building the remaining three vessels.

Packed with advanced technology

These corvettes will not be ordinary warships. The ministry said they will carry cutting edge missiles, weapons and sensor systems. This equipment will let them operate across air, surface and underwater missions with ease.

Boost for India’s shipbuilding industry

The project aims to do more than just add ships to the fleet. It will strengthen ties between defence PSUs, private shipyards and local industry partners. Small and medium businesses across India stand to benefit too.

Built for multiple combat roles

These versatile warships are designed to handle a wide range of jobs. They can hunt submarines, keep watch over the seas and carry out reconnaissance missions. The corvettes will also be used for search and attack operations, along with guarding India’s coastal waters.

Journey from approval to contract

The Defence Acquisition Council first gave its nod to this project back in June 2022. At that time, the estimated cost stood at around Rs 36,000 crore.

Defence Secretary Rajesh Kumar Singh was present in New Delhi as officials formally inked the contracts.