submarine deal
A big submarine deal worth about $ 8 billion (about Rs 66,000 crore) between India and Germany can be finalized in the next 3 months. German Defense Minister Boris Pistorius gave this information after a meeting with Defense Minister Rajnath Singh. He told that under this project, 6 modern submarines will be built in India. For this, talks between the two countries are in the final stages and the agreement can be signed soon.
Submarine will be made in India only
In this deal, German company ThyssenKrupp Marine Systems (TKMS) and Indian government company Mazagon Dock Shipbuilders Limited will work together. The special thing is that for the first time Germany will transfer its submarine making technology outside a European country. In such a situation, the share of Mazagon Dock Shipbuilders Limited may see a rise in the stock market in the coming days.
The biggest defense deal ever
This deal of about 8 billion dollars could be India’s biggest defense deal till date. This will greatly increase the strength of India’s Navy and will also give a big boost to Make in India.
Defense Minister on Germany tour
During his visit to Germany from 21 to 23 April, Rajnath Singh also visited the shipyard of TKMS and saw the Type-212 class submarine there. Company officials informed them about its features.
Defense cooperation will also be strengthened
Both countries have also signed agreements related to cooperation in Defense Industrial Cooperation Roadmap and UN Peacekeeping Training. This will further strengthen cooperation in the field of training, technology and defense manufacturing. In simple words, this deal will give new strength to India-Germany relations and will also greatly benefit India’s defense capability.
