India okays $8 bn for warships |
India has sanctioned $8 billion or Rs. 50,000 crores to build India`s most advanced warships. Reports said this follows just months after ordering new submarines to close the gap with the Chinese navy in the Indian Ocean. India`s navy has been rattled in recent months after Chinese submarines docked in Sri Lanka, just off its southern coast, underlining the growing reach of the Chinese navy after years of staying closer to its shores. Under Project-17A, frigates will be built at government shipyards in Mumbai and Kolkata. The government expects to sign a contract with the shipyards within the month. The Indian Navy`s undersea defenses are down to 13 ageing diesel-electric submarines, after a string of accidents, including one in Mumbai in 2013 in which 18 sailors were killed. In October, the government approved fast-tracking the tender process to build six submarines in collaboration with a foreign builder.
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