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Centre Approves ₹40,000 Crores for Eight Next-Gen Stealth Ships for Indian Navy
Sentiment: NeutralHigh Priority
What Happened?
The Cabinet Committee on Security has approved over ₹40,000 crores to build eight Next-Generation Corvettes for the Indian Navy, enhancing indigenous shipbuilding.
Key points
- The project was approved by the Cabinet Committee on Security chaired by Prime Minister Narendra Modi.
- The eight corvettes will be built by Garden Reach Shipbuilders and Engineers in Kolkata and Goa Shipyard Limited.
- The project aims for over 70% indigenous content, supporting the Atmanirbhar Bharat initiative.
- The first corvette is expected to be delivered by 2030, with construction starting within a year.
- The project is part of the Navy's modernization efforts to address maritime security challenges.
Key insights
- The project may create thousands of jobs in the MSME sector.
- Enhanced naval capabilities could deter maritime threats in the Indian Ocean Region.
- The initiative aligns with India's broader security and growth vision in the region.
Why it matters
This project could significantly boost India's indigenous defence manufacturing capabilities.
Tags
Entities
Narendra Modi· PersonIndian Navy· OrganizationGarden Reach Shipbuilders and Engineers· CompanyGoa Shipyard Limited· CompanyAtmanirbhar Bharat· InitiativeSAGAR· Initiative
Source
India Today
