Defence Ministry signs contracts worth Rs 53,866 crore for eight warships
The Indian Navy will acquire eight Next Generation Corvettes through two state-run shipbuilders.
The Ministry of Defence on Monday, November 2, 2026, signed contracts worth Rs 53,866 crore to procure eight warships for the Indian Navy, according to The Hindu.
The contracts were signed with two state-run shipbuilders, Garden Reach Shipbuilders & Engineers Limited (GRSE) and Goa Shipyard Limited (GSL), for the acquisition of eight Next Generation Corvettes (NGCs).
Under the terms of the agreement, GRSE will construct five corvettes, while GSL will construct the remaining three.
The Ministry said the project is a milestone for India's indigenous warship design and construction capabilities.
This is the first project where the ships will be indigenously designed by the Indian Navy and constructed by Defence Public Sector Undertakings (DPSUs) chosen through a competitive process, the Ministry stated.