Self-reliant India’s long jump, Ministry of Defense awarded contract worth Rs 19,600 crore to shipping companies

Defense Ministry- India TV Paisa
Photo: File Ministry of Defence

The ‘Self-reliant India’ initiative of the Central Government has received a big support from the Ministry of Defense. The Defense Ministry on Thursday signed an agreement with Indian shipping companies for the acquisition of 11 ships. The deal, worth about Rs 19,600 crore, will see the acquisition of 11 next-generation offshore patrol vessels and six next-generation missile vessels, officials said.

Of the 11 ships, seven will be built by Goa Shipyard Limited (GSL) and four by Kolkata-based Garden Reach Shipbuilders and Engineers (GRSE), the ministry said in a statement. Their supply will start from September, 2026. According to the statement, “The Ministry of Defense has approved the acquisition of 11 Next Generation Offshore Patrol Vessels and six Next Generation Missile Vessels by Indian shipping companies for Rs 19,600 crore to achieve ‘self-reliance’ in the defense sector by March 30, 2023.” signed the contract with.

According to the statement, a total agreement of Rs 9,781 crore was signed with GSL and GRSE for the acquisition of 11 next generation offshore patrol vessels. In addition, the ministry signed a Rs 1,700-crore deal with BrahMos Aerospace Pvt Ltd (BAPL) to procure next-generation marine mobile coastal batteries and BrahMos missiles. BAPL is a joint venture between India and Russia.

Latest Business News

Leave a Reply

Your email address will not be published. Required fields are marked *