India ready to issue a formal tender for a multi-billion dollar project to make six new-generation stealth submarines. A foreign manufacturer will tie-up with an Indian partner to make these under-sea vessels for nearly $ 7 Billion.
IDD Bureau India is now racing to match China in adding submarines to its naval fleet. Almost a decade after it started a project to get six conventional diesel-electric submarines, India approved the short listing of two Indian and five foreign companies, who can be possible partners and make the submarines under a $7 Billion
IDD Bureau Key to India’s defence manufacturing abilities are its nine public sector companies which now collectively have orders of US $ 33.1 Billion to make equipment like warships, planes, helicopters, tanks, cockpit displays and missiles, among other items. The Ministry of Defence owns these companies which ae otherwise run and operated like corporate entities
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