Indian shipyards Mazagon Dock Shipbuilders Limited (MDL), Garden Reach Shipbuilders & Engineers Limited (GRSEL), and Cochin Shipyard Limited (CSL) are set for substantial growth, driven by a significant pipeline of Indian Navy orders and diversification into commercial and export markets. The Navy's share in defence spending is approximately 21 per cent, ensuring robust order visibility for these domestic players.
The first project that is being negotiated is for the procurement of three Scorpene submarines, which will be jointly constructed by state-run Mazagon Dock Limited (MDL) and French defence major Naval Group.
India's three major listed shipyards - Mazagon Dock Shipbuilders Limited (MDL), Garden Reach Shipbuilders & Engineers Limited (GRSEL), and Cochin Shipyard Limited (CSL) - are poised for substantial growth, driven by a robust order pipeline from the Indian Navy and diversification into commercial and export markets.
India has commissioned its new indigenously-built nuclear-powered ballistic missile submarine INS Aridaman into service, further strengthening the naval component of its nuclear triad. Defence Minister Rajnath Singh also highlighted the Indian Navy's role in securing maritime trade routes.
Glimpses of the fifth Kalvari-class submarine INS Vagir in Mumbai on Friday, January 20, 2023, ahead of its commissioning ceremony.
The mega procurement project has been approved by the Cabinet Committee on Security chaired by Prime Minister Narendra Modi, they said.
INS Imphal is the first warship to have been named after a city from the northeast, said Vice Admiral Dinesh K Tripathi, Flag Officer Commanding in Chief, Western Naval Command.
India is expected to finalize the procurement of 26 naval variant Rafale jets and three Scorpene submarines from France in the coming weeks, further bolstering its naval capabilities. The deals, which are in the final stages of approval, could be announced during Prime Minister Narendra Modi's visit to Paris next month for an AI summit. The procurement of the Rafale (M) jets will be based on an inter-governmental agreement (IGA). The Indian Air Force is considering acquiring additional Rafale fighter aircraft squadrons. The deal for three Scorpene submarines follows the successful construction of six Scorpene submarines in India under Project 75. The defense and strategic partnerships between India and France have been strengthening in recent years, with both countries collaborating on joint development projects for jet and helicopter engines and advanced defense technologies.
INS Udaygiri and INS Himagiri marks the first occasion when two frontline surface combatants constructed at two different shipyards were commissioned simultaneously.
The sixth Scorpene class submarine, constructed by Mazagon Dock Shipbuilders Limited for the Indian Navy, was launched in Mumbai.
The development marks a major milestone in Indian Navy's submarine programme as the vessel is expected to bolster India's maritime prowess
The 6500-ton ship, to be named INS Kochi, is being built by Mazagon Docks Limited in Mumbai.
The Indian Navy has commissioned three new warships, INS Surat, INS Nilgiri, and INS Vaghsheer, marking a significant step in India's defense self-reliance and indigenous shipbuilding capabilities. These state-of-the-art vessels are designed and built entirely in India, showcasing the country's growing expertise in defense production. The commissioning of these warships strengthens India's position as a global leader in defense and augments its maritime strength.
An official said that there were stringent norms at MDL on data security.
The negotiations on cost and techno-commercial details relating to India's proposed procurement of 26 Rafale-M fighter jets and three Scorpene submarines from France are not yet concluded, sources said on Tuesday.
Christened 'Vela', the submarine was launched on May 6, 2019, and has completed all major harbour and sea trials including weapon and sensor trials despite COVID-19-induced restrictions, the Navy said.
INS Surat is the Indian Navy's first AI enabled warship.
Pakistan military authorities have committed to the release Indian soldier Chandu Chavan, who inadvertently strayed across the border last year, Union Minister of State for Defence Subhash Bhamre said in Mumbai on Thursday.
All the six diesel-electric attack submarines will be equipped with the anti-ship missile, which has a proven record in combat, the defence ministry said.
India on Thursday approved proposals for purchasing 26 Naval variant of Rafale jets from France and procuring three French-designed Scorpene class submarines, a day ahead of Prime Minister Narendra Modi's wide-ranging talks with French President Emmanuel Macron in Paris.
This firing is a significant step towards achieving self-reliance in niche missile technology. Navy said.
The government has approved the construction of two indigenously designed nuclear attack submarines and is expected to ink contracts next month to procure 26 naval variant of Rafale jets and three Scorpene submarines, Navy Chief Admiral Dinesh Tripathi said on Monday.
Vice President Jagdeep Dhankhar, whose wife Sudesh launched the warship, was the chief guest at the ceremony.
HAL, BEL and MDL feature on Sipri's list of the 100 largest arms producers in the world.
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
For the navy, which is making do with just 14 conventional submarines against a requirement of 24, the INS Khanderi delay extends a dangerous operational void.
It is the first warship to have been named after a city from the Northeastern region, the approval for which was accorded by the President in April 2019.
It will undergo a number of tests by the Indian Navy before it gets commissioned in the defence fleet.
'Those betting against PSUs will likely be punished in this upswing.'
Kalvari is expected to enter service by September end.
The submarines are being constructed at Mazagon Dock Shipbuilders Limited in Mumbai in collaboration with the Naval Group of France.
Defence Minister Arun Jaitley on Wednesday reviewed the progress of 'Project 75' (indigenous submarine construction project) along with other ongoing warship projects, including P-15 B class stealth destroyers in Mumbai.
Equipped with some of the best sensors in the world, its weapons package include sufficient wire guided torpedoes and sub-surface to surface missiles to neutralise a large enemy fleet, the Navy said.
Prime Minister Narendra Modi will visit Abu Dhabi on July 15.
The Navy commander also said that as many as 39 naval ships and submarines are currently being constructed in various Indian shipyards that are expected to significantly boost India's maritime prowess.
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
Navy chief Admiral Sunil Lanba's wife Reena Lanba launched the submarine, which has been constructed by shipbuilder Mazagon Dock Limited in Mumbai.
AIP or Air Independent Propulsion system allows the vessel to stay underwater for a longer duration.
New Delhi had proposed during the 2+2 dialogue in April that the US navy could avail of the services and expertise of Indian shipyards.
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