SOURCE: AFI
GlobalData’s report, “Global Submarine Market Analysis and Forecast to 2033,” says that India is projected to spend approximately $31.6 billion on submarine procurement over the next ten years. Of this investment, 30.5% will be allocated to the Project-77 nuclear attack submarines (SSNs) that were recently cleared and will see the indigenous construction of two nuclear attack submarines.
The Project-77 SSNs are expected to be built at the Naval Dockyard in Cochin and will be armed with conventional-tipped missiles. They are expected to be operational by 2030. The remaining 69.5% of India’s submarine procurement budget will be spent on conventional submarines. India is currently Planning to build three more Kalvari class conventional submarines at the Mazagon Dock Shipbuilders Limited (MDL) in Mumbai and also Six more conventional submarines under Project-75Iwhere German TKMS is leading These submarines are expected to be operational by 2032.
India’s submarine procurement is part of its larger effort to modernize its armed forces. The Indian Navy is also in the process of acquiring new aircraft carriers, warships, and fighter jets.