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News18
11-07-2025
- Business
- News18
Record Rs 1.06 Lakh Crore Submarine Deal To Make Indian Navy A Global Undersea Power
Last Updated: The landmark deal, part of the ambitious Project 75I, will significantly elevate India's maritime strength and drive a new chapter in indigenous defence manufacturing India is preparing to execute its largest-ever defence contract, a Rs 1.06 lakh crore mega deal poised to transform the Indian Navy into a formidable undersea force within the next decade. As geopolitical tensions intensify in the Indo-Pacific, especially with China's growing footprint in the Indian Ocean and Pakistan's expanding naval ambitions, this move signals India's most ambitious naval modernisation effort yet. The defence ministry is likely to award the twin submarine contracts to Mazagon Dock Shipbuilders Limited (MDL) by the end of the next financial year, sources indicate. This landmark deal, part of the ambitious Project 75I, will significantly elevate India's maritime strength and drive a new chapter in indigenous defence manufacturing. India's submarine arsenal currently comprises 16 conventional submarines, recently reinforced by the addition of INS Vagsheer under the original Project-75. This project saw the successful induction of six Kalvari-class Scorpene submarines, now regarded as the backbone of India's underwater combat capability. The Indian Navy's newest warship, INS Tamal, was also recently inducted. Built in collaboration with Russia and armed with the lethal BrahMos cruise missile, it adds another sharp edge to India's surface fleet. But while these developments mark progress, officials believe India must scale up quickly to counter regional threats. China's People's Liberation Army Navy (PLAN) operates a staggering 355 warships and submarines, making it the world's largest naval force. Pakistan, meanwhile, is also enhancing its undersea warfare capabilities with China's support. Germany's TKMS To Partner In The Rs 70,000 Crore Project Under Project-75I, MDL will collaborate with Germany's ThyssenKrupp Marine Systems (TKMS) to build six state-of-the-art submarines based on the HDW Class 214 design. These will be fitted with Air Independent Propulsion (AIP) systems, enabling them to remain submerged for up to two weeks without surfacing, a significant tactical advantage. These submarines, 72 metres in length and weighing 2,000 tonnes, will carry eight weapon tubes and accommodate a 27-member crew. The AIP system generates electricity from the chemical reaction of hydrogen and oxygen, allowing stealth operations without detectable engine noise. A key clause in the deal mandates 45% indigenous content in the first submarine, rising to 60% by the sixth. Technology transfer from TKMS will eventually empower India to manufacture future submarines independently. The first vessel is expected seven years after the contract is signed, with the remaining delivered annually. Rs 36,000 Crore Boost For Next-Gen Submarines In parallel, the government is also poised to greenlight a second submarine contract worth Rs 36,000 crore for building three next-generation Scorpene-class submarines. These will be an upgraded version of the existing Kalvari class and will carry 60% indigenous content. The design will be similar to those delivered to the Brazilian Navy. The first submarine under this program will be delivered in six years, followed by two more at yearly intervals. Together with the HDW-class, these additions are set to massively upgrade the Indian Navy's undersea strike capabilities. Indigenous AIP System And Weaponry India's thrust toward self-reliance is further underlined by the Defence Research and Development Organisation (DRDO) successfully developing an indigenous AIP system. In December 2024, the government signed a Rs 1,990 crore deal with MDL to install this system on existing Kalvari-class submarines, starting with INS Kalvari during its major refit in September 2025. In a separate deal worth Rs 877 crore, India has partnered with France's Naval Group to equip Kalvari-class submarines with electronic heavyweight torpedoes, enhancing their lethality under the sea. Employment, Industrial Growth And Naval Expansion The scale of these defence projects is expected to generate significant employment. The AIP initiative alone will create an estimated three lakh man-days of work. MDL has already partnered with over 50 Indian companies, while the Indian arm of Naval Group is training more than 70 Indian engineers on advanced submarine technologies. MDL's current manufacturing infrastructure supports the construction of 11 submarines and 10 destroyers simultaneously. The company has already proven its capability by successfully delivering all six submarines under the original Project-75. India's long-term maritime strategy involves developing a 175-ship strong navy by 2035. At present, the Navy has over 130 vessels, with 61 new warships in various stages of construction. Strategic Significance In Asia-Pacific The renewed push under Project-75I and the Scorpene expansion is not just about numbers – it's a strategic imperative. India must maintain a credible undersea deterrent and power projection capability in the Indian Ocean Region (IOR) and beyond, especially as China and Pakistan aim to assert influence in critical sea lanes. Get breaking news, in-depth analysis, and expert perspectives on everything from politics to crime and society. Stay informed with the latest India news only on News18. Download the News18 App to stay updated! tags : China defence deals indian navy indian ocean pakistan submarine view comments Location : New Delhi, India, India First Published: July 11, 2025, 16:26 IST News india Record Rs 1.06 Lakh Crore Submarine Deal To Make Indian Navy A Global Undersea Power Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hindustan Times
09-07-2025
- Business
- Hindustan Times
MDL to get submarine contracts worth over ₹1 lakh crore in FY25-26
Public sector yard Mazagon Dock Shipbuilders Limited (MDL) is likely to get two separate contracts from the central government to build submarines for the Indian Navy worth more than ₹1.06 lakh crore before financial year 2025-26 ends, officials aware of the matter said on Wednesday. The Mazagon Dock Shipbuilders Limited. The first contract is the ₹70,000-crore Project 75I under which the Mumbai-based MDL and German yard thyssenkrupp Marine Systems (tkMS) will build six advanced submarines to sharpen the navy's underwater capabilities. The second contract estimated to be worth ₹36,000 crore is for constructing three more Scorpene-class submarines to bolster the country's maritime posture in the Indian Ocean region. The contract negotiation committee is set to begin discussions to finalise the commercial and technical terms for P-75I, and negotiations for the additional Scorpene-class submarines have been completed, said Commodore SB Jamgaonkar (retd), director (submarine and heavy engineering), MDL. 'We are looking forward to executing the two projects. The two deals are likely to be signed before March 31, 2026,' he said. The first submarine under P-75I will be delivered to the navy seven years after the contract is signed, with the rest at the rate of one per year, Jamgaonkar said. These advanced submarines, a variant of HDW Class 214 vessels, will come with air independent propulsion (AIP) systems. AIP significantly increases a submarine's underwater endurance and reduces the risk of detection. As part of the contract, tkMS will transfer the submarine's design and technology to India, enabling the goal of self-reliance in the defence manufacturing sector. The first submarine under P-75I must have a minimum of 45% indigenisation, with the local content going up to 60% in the sixth. MDL and tkMS edged out their only competitor the Larsen & Toubro-Navantia combine for this order. MDL has the capability to simultaneously build 11 submarines and 10 destroyers, said Commander V Puranik (retd), director (corporate planning and personnel), MDL. The first of the three new Scorpene-class submarines will be delivered six years after the contract is signed, Jamgaonkar said. The other two will be at the rate of one per year. 'MDL is ready and configured for this project. We will hit the ground running as skilled labour is there and the supply chain is in place,' he said. MDL has already built six Kalvari-class (Scorpene) diesel-electric attack submarines with technology transfer from the French firm, Naval Group, under a ₹23,562-crore programme called P-75. The navy commissioned the last of these six submarines, INS Vaghsheer in January 2025. In December 2024, the defence ministry signed two separate contracts worth ₹2,867 crore to strengthen the navy's underwater capabilities --- for retrofitting its Kalvari-class submarines with AIP systems to enhance their endurance, and integration of electronic heavy-weight torpedoes to boost their firepower capabilities. The ministry then signed a ₹1,990-crore contract with MDL for the construction of AIP plug for the Defence Research and Development Organisation (DRDO)-AIP system and its integration on the conventional submarines, and another contract worth ₹877 crore with Frances's Naval Group for integration of the torpedoes to augment firepower capabilities of the Kalvari-Class submarines. These submarines are capable of various missions such as anti-surface warfare, anti-submarine warfare, long-range strikes, special operations, and intelligence. The AIP system will be retrofitted when it's ready and the submarines come for refit.
Time of India
11-06-2025
- Politics
- Time of India
India conducts military exercises with other countries after Operation Sindoor
NEW DELHI: Continuing with the high tempo of military exercises with other countries after last month's hostilities with Pakistan during Operation Sindoor , India has now conducted anti-submarine operations with the UK in the northern Arabian Sea, undertaken Special Forces drills with the US and is set for trilateral wargames in Mongolia. The Navy deployed stealth frigate INS Tabar, a Kalvari-class submarine and a long-range maritime patrol P-8I aircraft for the tactical exercise with an aircraft carrier strike group of the UK, which included HMS Prince of Wales and HMS Richmond, on June 9-10. India had forward deployed several frontline warships and submarines led by aircraft carrier INS Vikrant, with its MiG-29K fighters, in a dissuasive deterrent posture in the northern Arabian Sea when the IAF and Army had launched deep precision strikes against nine terror hubs in Pakistan and PoK on May 7. The deployment had bottled up the Pak Navy within its own shores in a defensive mode. The IAF's Garud commandos, in turn, conducted intensive combat drills with their counterparts from the USAF at different locations in north India from May 26 to June 10, in the first-ever such Special Forces exercise called 'Tiger Claw'. 'The exercise aimed at expanding partnerships, mutual exchange of best practices in special operations, and joint training between the two air forces to develop interoperability,' an officer said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trending in in 2025: Local network access control [Click Here] Esseps Learn More Undo An Army contingent of Kumaon Regiment soldiers and some other units, including a woman officer and two women soldiers, also reached Ulaanbaatar in Mongolia on Wednesday to take part in the 'Khaan Quest' exercise, with the US as the third participant in the drills from June 14 to 28. 'The exercise's aim is to prepare Indian armed forces for peacekeeping missions while operating in a multinational environment, thereby increasing interoperability and military readiness in peace,' an officer said.
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Business Standard
04-06-2025
- Business
- Business Standard
Strong order visibility likely to help shipyard stocks sail faster
The DAC plans to order three Kalvari-class submarines with Mazagon Docks (MDL) on a nominated basis in FY26 at an order value of Rs 36,000 crore Devangshu Datta Mumbai Listen to This Article The Defence Acquisition Council (DAC) approved naval orders worth ₹8.45 trillion over FY22–25, which is over 3x the amount for the preceding three years. There are orders worth ₹2.35 trillion lined up in FY26–27, approximately 3.1x the combined order book of the three listed PSU shipyards. The combined order books of Mazagon Dock Shipbuilders (MDL), Garden Reach Shipbuilders & Engineers (GRSE), and Cochin Shipyard (CSL) have been stagnant since FY19 though their combined revenue has risen from ₹8,900 crore in FY19 to ₹12,400 crore in 9MFY25 (not annualised). The warship project pipeline is lumpy and subject to long delays. The
Time of India
20-05-2025
- Business
- Time of India
Cochin Shipyard, ideaForge, GRSE and other defence stocks fall up to 7% as post-Sindoor rally unwinds
Shares of Cochin Shipyard , ideaForge Technology , Garden Reach Shipbuilders & Engineers ( GRSE ), and other defence-linked companies extended losses on Tuesday, falling up to 7% as investors continued to book profits following a sharp rally driven by optimism around fresh orders and the success of Operation Sindoor. Cochin Shipyard dropped as much as 6.9% to Rs 1,847.60 on the BSE, while ideaForge fell 6.1% to Rs 536.25. GRSE declined 5.1% to Rs 2,356.05, and Mazagon Dock Shipbuilders lost 3.1% to Rs 3,303.20. Tuesday's fall comes after Monday's broad retreat in defence stocks , when Cochin Shipyard, Mazagon Dock, GRSE and Hindustan Aeronautics Ltd (HAL) fell up to 4%. The sharp pullback follows a surge in defence counters last week, when Cochin Shipyard and GRSE gained 41% and 40% respectively, and drone maker ideaForge soared 56%. HAL also rose 16% over the week, amid investor enthusiasm for India's rising defence manufacturing capacity and export potential. Operation Sindoor rally meets resistance The rally was sparked by the Indian military's high-profile demonstration of indigenous missile and drone capabilities under Operation Sindoor. The event, combined with expectations of large-scale defence orders, added Rs 1.8 lakh crore in market capitalisation to the sector between May 9 and May 17. However, the recent drop underscores investor caution in the short term. 'We see large orders being placed in FY26–27 led by the ordering of six submarines under P75I, three Kalvari-class submarines, next-generation Corvettes, and P-17B Frigates, besides a host of smaller vessels,' Antique Stock Broking said. Long-term outlook intact Despite the correction, analysts remain bullish on the sector's long-term trajectory. Antique Stock Broking projects that the combined order books of Cochin Shipyard, GRSE and Mazagon Dock could more than triple by FY27. The brokerage has a 'buy' rating on Mazagon Dock and GRSE, while maintaining a 'hold' on Cochin Shipyard, citing uncertainty over the timing and scale of the proposed IAC-II (Indigenous Aircraft Carrier II). Antique sees visibility on Rs 2.12 lakh crore worth of orders over FY26–27, including Rs 36,000 crore for additional Kalvari-class submarines and another Rs 70,000 crore for the P75I program. The Defence Acquisition Council has already approved Rs 8.45 lakh crore in orders between FY22 and FY25—more than triple the approvals from the previous three-year period. Looking ahead, Antique noted, 'Looking beyond FY27, we see the next wave of large-scale orders led by Project-18 destroyers and the indigenous Project-76 submarine program.' The recent correction follows a historical pattern. The Nifty Defence index had surged 350% between July 2022 and July 2024, before dropping 38% by February 2025 amid concerns over valuations. The success of Operation Sindoor has since reignited interest, but Monday and Tuesday's declines suggest that near-term volatility may persist, even as the structural story remains intact. Also read | Defence stocks enter overheated zone, says expert, suggests strategy for GRSE, Cochin Shipyard & 3 others ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
