Experts' worries intensified after Pakistan commissioned its first Chinese-built Hangor-class submarine, PNS Hangor, last month.
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.
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 is strengthening the naval component of its nuclear triad with Navy Chief Admiral Dinesh K Tripathi on Tuesday saying that the third indigenous nuclear-powered submarine 'Aridaman' will be commissioned soon and that his force is focusing on boosting its overall combat prowess.
Naval Group's announcement comes a day before Prime Minister Narendra Modi's visit to Paris where he is scheduled meet recently re-elected French President Emmanuel Macron.
'There's an urgent requirement, particularly for the Indian Ocean region, as China's naval presence grows, and with Pakistan also acquiring more submarines.'
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.
This would provide a major boost to the indigenous design and construction capability of submarines in India.
This is the fourth of the six submarines the Indian Navy is to induct under the Kalvari-class submarine Project-75.
The government has cleared the indigenous construction of seven stealth frigates and six nuclear-powered submarines to bolster naval power.
The defence ministry has already shortlisted two Indian shipyards and five foreign defence majors for the project, being billed as one of biggest "Make in India" ventures.
'Amid the frequent cries that the defence budget falls short of what is needed, we tend to ignore the reality that any enhancement in the allocation is just not possible, and the armed forces have no option but to operate within this constraint.' 'So, unless deadwood -- especially manpower -- is identified and eliminated, we simply cannot have a modern military of the type that India needs,' says Vice Admiral Premvir Das (retd).
Navy chief Adm. Sunil Lanba said that by 2050, India will have 200 ships, 500 aircraft.
The 30-share Sensex and the 50-share Nifty ended flat at the mark of 27,403 and 8,248 respectively.
'The range of purchases throw a light on India's threat perception as also its perceived role of being a stabilising influence in the region,' says Brigadier S K Chatterji (retd).
