India's Defence Ministry Sets Stage for Historic ₹70,000 Crore Submarine Deal with MDL

The Defence Ministry of India would begin negotiating its biggest defense deal on January 27, 2025, with Mazagon Dock Shipbuilders Limited for a historic ₹70,000 crore project to make six advanced submarines. This is part of the Indian Navy's Project 75 that seeks to enhance underwater capabilities amid rising regional tensions. With Larsen and Toubro's bid disqualified for non-compliance, MDL is the only one left in the fray. This deal is a major step for India in modernizing its naval fleet and enhancing defense capabilities toward rising maritime threats. 

 

Source: Economic Times, Upstox, Times of India