POST Online Media Lite Edition


India signs 3 billion USD with Russia for attack submarine

Staff Writer |
India has signed a deal worth 3 billion U.S. dollars with Russia for leasing a nuclear-powered attack submarine for the Indian Navy for a period of 10 years, said media reports on Friday.

Article continues below

According to the reports, as per the government-to-government deal signed between the two countries, Russia will have to deliver the "Akula" class submarine, to be named as "Chakra III," for the Indian Navy by 2025.

It will be the third Russian submarine to be leased for the Indian Navy.

The country's defence ministry, however, has not announced the deal officially.

A Press Trust of India (PTI) report stated that a spokesperson in the Ministry of Defence refused to comment about the deal.

What to read next

Texas state and local government outstanding debt up 45 percent
IHS: India's gas production to stagnate without pricing reforms
Complicated relations between India and China