India Signs ₹53,866 Crore Deal for Next-Generation Corvettes to Boost Naval Security
The Indian Ministry of Defence has signed contracts worth ₹53,866 crore for eight next-generation corvettes to enhance maritime security.
New Delhi, November 2 (Daily Kiran) : In a significant move to strengthen India’s maritime security and indigenous defense manufacturing capabilities, the Ministry of Defence has signed contracts worth ₹53,866.50 crore for the construction of eight next-generation corvettes (NGCs) for the Indian Navy. The agreements were formalized on November 2, 2026, with Garden Reach Shipbuilders and Engineers Limited (GRSE) and Goa Shipyard Limited (GSL).
The contracts were signed in the presence of Defence Secretary Rajesh Kumar Singh. Under the terms of the agreement, GRSE will build five corvettes, while GSL will construct three. This initiative is historic, marking the first time that warships designed indigenously by the Indian Navy will be constructed by public sector defense companies selected through a competitive process.
According to the ministry, the next-generation corvettes will be equipped with advanced missiles, weapon systems, and sophisticated sensors. These vessels will be capable of conducting multi-dimensional maritime operations, including air, surface, and anti-submarine warfare.
The inclusion of these ships is expected to significantly enhance the Indian Navy’s ability to secure maritime trade routes, improve anti-surface and anti-submarine warfare capabilities, and bolster coastal defense, littoral combat operations, and maritime surveillance missions.
The project is also anticipated to have a broad economic impact. The ministry estimates that over the next decade, it will generate approximately 7.2 million man-days of employment in shipyards and around 46 million man-days in supporting industries and the MSME sector.
The government believes that this project will strengthen India’s indigenous shipbuilding ecosystem and provide a fresh impetus to the Atmanirbhar Bharat initiative in the defense manufacturing sector.
Notably, in October, the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, granted in-principle approval for defense procurement proposals worth approximately ₹2.12 lakh crore, with around 82 percent of these purchases expected to be sourced from the Indian industry. This aligns with the government’s strategy to boost domestic defense production.
