New Delhi, Nov. 2 -- The Ministry of Defence has signed contracts worth Rs 53,866.50 crore with Garden Reach Shipbuilders & Engineers Limited (GRSE) and Goa Shipyard Limited (GSL) for the construction of eight Next Generation Corvettes for the Indian Navy.

The contracts were signed in the presence of Defence Secretary Rajesh Kumar Singh at Kartavya Bhawan-2, New Delhi, on November 2, 2026.

Under the contracts, GRSE will construct five corvettes, while GSL will build the remaining three.

The ships will be indigenously designed by the Indian Navy and constructed by the two defence public sector undertakings (DPSUs), selected through a competitive process.

The project is expected to generate around 72 lakh person-days of employment in sh...