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Tuesday, May 17, 2011

India to invest US $46.96 billion on 101 naval ships

INS ArihantIndia is to invest US $46.96 billion as part of moves to boost up its naval forces over the next 20 years adding 101 new warships, ranging from sophisticated destroyers to nuclear submarines.

"Going by the investment value, India is expected to build sophisticated destroyers, new generation and new radar vessels, nuclear submarines, and amphibious ships," Naval analyst Bob Nugent and vice president of the United States-based AMI International, said here today.

Speaking at a pre-event press conference for the International Maritime Defence Exhibition and Conference to be held in Singapore for May 18 to 20, the international expert said that Indian investments in surface and undersea platforms would be double that of China, which was spending US $23.99 billion to build 113 war vessels.

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