Kolkata/New Delhi, Nov. 2 -- In a major boost to India's naval strength and indigenous defence manufacturing, the Ministry of Defence on Monday signed contracts worth Rs 53,866.50 crore for the construction of eight next-generation corvettes for the Indian Navy, with Kolkata-based Garden Reach Shipbuilders & Engineers Ltd (GRSE) securing orders for five of the warships.
The remaining three corvettes will be constructed by Goa Shipyard Ltd (GSL), under the contracts signed in the presence of Defence Secretary Rajesh Kumar Singh at Kartavya Bhawan-2 in New Delhi.
The project marks a significant milestone in India's indigenous warship-building programme, being the first in which the vessels will be designed by the Indian Navy and constructed...