Indian Navy Set to Finalize ₹1.25 Lakh Crore Deals, Including Drones, Submarines, and Jets, by Year-End

New Delhi(The Uttam Hindu):The Indian Navy is on the verge of finalizing three major defense deals worth approximately ₹1.25 lakh crore by the end of this financial year, according to Navy Chief Admiral Dinesh K. Tripathi. Speaking at the annual Navy Day event on December 2, Admiral Tripathi revealed that these deals include the acquisition of 31 MQ-9B drones, three additional Scorpene-class submarines, and 26 Rafale-M fighter jets.

He further stated that the deals for the additional Scorpene submarines and Rafale M jets are in their final stages and could be signed within the next two months.

Mazagon Dock and Bharat Electronics Limited (BEL) are expected to play critical roles in these deals. BEL is set to contribute significantly to the submarine program, while the submarines themselves will be constructed through a partnership between the French Naval Group and Mazagon Dock.

The revised cost for the Scorpene submarines stands at nearly ₹40,000 crore. These submarines will incorporate advanced technology, including an indigenous combat management system. Meanwhile, shares of Mazagon Dock have fallen by 1.2%, trading at ₹4,540, while BEL's shares, which were recently added to the Nifty 50 index, are also down 1.1%, currently priced at ₹304.6.