ANI reported that India’s Cabinet Committee on Security cleared a project worth more than ₹400 billion (₹40,000 crore) for eight Navy corvettes, advancing a procurement that could bring work to two state-run shipyards.
The outlet’s unnamed government sources said the committee made the decision Wednesday. Prime Minister Narendra Modi chairs the panel. ANI reported that contracts with Garden Reach Shipbuilders & Engineers Ltd. (GRSE) and Goa Shipyard Limited (GSL) are expected in the coming days.
The Ministry of Defence (MoD) said the Defence Acquisition Council (DAC) gave the project initial procurement approval in June 2022, estimating its cost at about ₹360 billion (₹36,000 crore). The ministry said the Indian Navy would develop the design in-house for roles including surveillance, escort, deterrence and coastal defense.
GRSE said in a May 2025 filing that it was the lowest bidder for the eight-ship program, with a likely award of five ships worth more than ₹250 billion (₹25,000 crore). GSL’s 2024-25 annual report identified it as the second-lowest bidder and said a three-ship contract could add about ₹180 billion (₹18,000 crore) to its order book. Both records describe expected awards; they do not confirm signed contracts.
ANI also reported that the Navy expects the first corvette by 2030.
