Indian Navy's submarines to be made locally; Rs 60,000-cr P75 I will be last order from abroad

The shipbuilding industry is set for mega business with the government deciding that an ongoing Rs 60,000 crore plan to procure diesel electric submarines will be the last order to go to foreign firms and that all future projects will be designed and made in India.

Leading international players, which have for long eyed India as one of the largest importer of submarines in the world, are currently in contention for the P75 I project to manufacture six new stealthy submarines in India.

A top Navy officer told ET that the government has cleared the project on the condition that all future acquisitions of conventional submarines will be based on an indigenous design and produced at Indian shipyards.

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