Indian Navy to get 8 Next Generation Corvettes under Rs 53,866 crore deal
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Ministry of Defence signed a Rs 53,866.50 crore deal on November 2 for eight Next Generation Corvettes for the Indian Navy.
- ✓Garden Reach Shipbuilders and Goa Shipyard will build these ships.
- ✓This project uses indigenous designs to boost local manufacturing and will create many jobs across the country soon.
Story at a Glance
- Category
- MARKET
- Reported By
- Zee Business
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The Next Generation Corvettes will be equipped with advanced missiles, weapons and sensor systems. PIB Image
The Ministry of Defence has signed contracts worth Rs 53,866.50 crore with Garden Reach Shipbuilders & Engineers Limited (GRSE) and Goa Shipyard Limited (GSL) for the acquisition of eight Next Generation Corvettes (NGCs) for the Indian Navy.
The agreements were signed in the presence of Defence Secretary Rajesh Kumar Singh at Kartavya Bhawan-2 in New Delhi on November 2, 2026.
Under the project, GRSE will build five corvettes, while GSL will construct the remaining three. The programme is being seen as an important step in strengthening India's indigenous warship design and shipbuilding capabilities.
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