In a major step under the Make In India initiative, the Indian Navy has issued an Expression of Interest for shortlisting of potential Indian Strategic Partners for the construction of six conventional submarines which would cost nearly Rs 45,000 crore.
It would be second such project after the procurement of 111 Naval Utility Helicopters (NUH), the Defence Ministry said Thursday.
The Project 75-I would boost the indigenous design and construction capability of submarines and would bring the latest submarine technology to the country. Under the program, all the submarines would be constructed by the selected Indian Strategic Partner in the country.
It would provide the Indian Navy with the option to manufacture six more submarines in future, the Navy said.