The Indian Navy is set to receive eight next-generation corvettes under a defence project worth more than Rs 40,000 crore, with state-owned shipbuilders Garden Reach Shipbuilders & Engineers (GRSE) and Goa Shipyard Limited (GSL) selected to construct the warships.
The Cabinet Committee on Security (CCS), chaired by Prime Minister Narendra Modi, cleared the project at a meeting held on Wednesday, according to government officials quoted by ANI. The formal contract with the two shipbuilders is expected to be signed in the coming days.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The project marks a significant order for India's domestic defence shipbuilding industry, with all eight vessels scheduled to be built in the country.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
GRSE, headquartered in Kolkata, and Goa Shipyard Limited, based in Goa, will undertake the construction of the eight Next-Generation Corvettes. The vessels will feature an indigenous stealth design developed by the Indian Navy.
Each warship is expected to have a displacement of around 2,000 tonnes and attain a maximum speed of approximately 30 knots. Designed as high-speed surface combatants, the corvettes will be equipped to undertake multiple maritime security and combat operations.
The first vessel is targeted for delivery by 2030, with efforts underway to accelerate the construction schedule, according to the report.
The project is expected to strengthen the manufacturing capabilities of India's public sector defence shipyards while providing a boost to the domestic defence supply chain.
According to the Ministry of Defence, the new corvettes will be adaptable, multi-role platforms capable of performing a range of maritime security operations.
Their induction is expected to enhance the Indian Navy's combat readiness and operational capabilities, particularly across the Indian Ocean Region (IOR), a strategically important maritime corridor.
The vessels are expected to strengthen India's ability to monitor and secure its maritime interests while expanding its operational presence in the region.
ALSO READ: Varanasi Ropeway Project: Second Phase Of Trials Underway, Here's What To Expect
The project also aligns with the government's broader push to reduce dependence on foreign defence suppliers and expand indigenous manufacturing capabilities under the Atmanirbhar Bharat initiative.
It is also in line with India's SAGAR vision, Security and Growth for All in the Region, which focuses on strengthening maritime cooperation and security across the Indian Ocean.
For GRSE and Goa Shipyard, the order represents a major opportunity to expand their role in India's naval modernisation programme. The construction of eight advanced warships is also expected to support domestic shipbuilding expertise, employment and the wider defence manufacturing ecosystem.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
