It is estimated the deal would eventually work out to cost around $9 bn at least for 6 submarines—negotiated down by India. Original bid by state-run MDL & TKMS was over Rs 1.2 lakh cr.
The drones, known as “sub-sea baby”, struck the Kilo-class submarine in the Black Sea port of Novorossiysk, the Security Service of Ukraine said. Russia denied the claim.
The L&T-Navantia bid failed to meet technical requirements. The deal, which will easily cost over Rs 70,000 crore, will see the German firm design a new submarine to cater to Indian needs.
Navy chief Admiral Dinesh Tripathi puts the spotlight on Pakistan's ambitious plan to be 50-ship strong in the next decade. Says operational plans are being tweaked with it in mind.
3 new Scorpène submarines are being built by Mazagon Dock Shipyard in partnership with France's Naval Group. Acquisition of Rafale M aircraft is under Inter-Governmental Agreement.
Spanish firm Navantia is looking to base its Asia operations in India, as Indonesia and Vietnam consider buying submarines from the company, it is learnt.
Rajnath Singh laid foundation stone for 2,900-acre Very Low Frequency (VLF) station in Telangana Tuesday. Apart from the new station, India has a VLF facility in Tirunelveli.
Regulator seeks feedback on allowing firms to repurchase shares via exchanges after tax changes, as markets reel from war-led selloff and foreign outflows.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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