India, Russia to hammer out $500 million navy deal today


India and Russia will on Tuesday hammer out a $500 million contract to build two stealth frigates in Goa that are expected to be delivered by 2027, two officials familiar with the development said on condition of anonymity.

Russia’s state-run arms exporter Rosoboronexport and India’s Goa Shipyard Limited (GSL) will sign the contract in New Delhi to build the Grigorovich-class ‘Project 1135.6’ frigates with technology transfer from Russia, which is India’s top arms supplier.

The deal comes just weeks after the two countries inked a nearly $1 billion deal to import two other such warships from Russia. Those ships are being built at the Yantar Shipyard in Kaliningrad and are expected to be delivered to the Indian Navy by 2022-23. Read More

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