The South Asian nation's bid to build six conventional diesel-electric subs is now delayed by a year and further delays are expected, according to two senior officials directly aware of the situation who asked not to be identified because the information isn't public.
The development is more than a setback to India's efforts to upgrade its military: The project also represents a test of Prime Minister Narendra Modi's new defense acquisition policy. That policy requires foreign manufacturers to partner and provide local firms with technology to build military hardware in India, the world's largest weapons importer.
German defense manufacturer ThyssenKrupp Marine Systems, in partnership with India's state shipyard Mazagon Dock Shipbuilders, and private shipbuilder Larsen & Toubro (L&T), with Spain's Navantia, are competing for the project.
Denne historien er fra December 14, 2024-utgaven av Financial Express Bengaluru.
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Denne historien er fra December 14, 2024-utgaven av Financial Express Bengaluru.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Dilip Kumar's Bandra bungalow turns into 'Legend'
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Will India's chess triumphs help attract marketing dollars?
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India's ₹50,000-cr submarine plan stalls after sea tests
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Swiggy does a Zomato with Scenes
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Sebi needs to ensure people don't approach tribunal: ED
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Algo trading for retail soon
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A Royal Enfield store without motorcycles!
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Not your fault if employer did not deposit TDS
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With rider, diabetics get cover from Day 1
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