Fri. Mar 29th, 2024

India and Russia are poised to ink $3.3 billion nuclear submarine deal – an inter-governmental pact facilitating the Indian navy – to loan another Akula-class nuclear submarine for another ten years. The agreement is likely to get signed by March 7, according to the Economic Times news reports.

Source told Sputnik, the vessel will get ready by 2025 after the extensive construction programme over mothballed hulls at the Russian shipyard.

A person, familiar with the development, told Sputnik: “The Indian Navy wants to have the intended submarine by 2023 but the modernisation of the submarine to meet India’s needs including that of torpedoes and land-attack missiles will take more time.”

The nuclear submarine deal worth around $3.3 billion will mark the biggest deal since last year’s October when the two sides had inked a $5.43 billion agreement for five units of Russian S-400 air missile and defence systems.

Sputnik reported the proposal to acquire another submarine had acquired all clearance from the Indian defence ministry after a naval delegation team from India inspected two Akula-class submarines, the Samara and the Bratsk, to select the one to be loaned.

However, during a three-day meeting from February 18-21 of the Indo-Russia intergovernmental committee over military-technical cooperation (IRIGC-MTC), they had discussed aspects related to the acquisition in Kochi, a state in India.

For several years, India has been negotiating with Russia for a second Akula-class submarine. At present, the Indian Navy has a total of 13 conventional submarines plus one domestically-produced Arihant-class nuclear submarine and one Russian Akula-class submarine on a lease.

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