India, Russia ink nuclear submarine deal

India on Thursday inked a USD 3 billion deal with Russia. Under the agreement, a nuclear-powered attack submarine will be leased to Indian Navy for a period of 10 years, military sources said.

Russia will deliver the nuclear-powered attack submarine to be known as Chakra III to the Indian Navy by 2025. Notably, it will be the third submarine from Russia as India Navy has taken two more submarines on lease from Russia.

The first nuclear-powered submarine was taken in 1988 and later in 2012 another submarine was taken on lease for a period of 10 years.