New Delhi: – The Indian government will be spending ₹3.5 trillion (USD 51 billion), over the next ten years, to strengthen the Indian Navy, who is responsible for the security of the Indian marine borders. The Minister of State for Defence, Shripad Naik announced that new warships, submarines and other ultramodern equipment would be purchased, with these funds. Minister of State for Defence, Naik said that given the Indian neighbours and the geopolitical situation of India, having strong marine security and a powerful navy have become mandatory.
India has a huge coastline and the security of this coastline is critical. Underlining that the terrorists involved in the 26/11 attack had arrived in Mumbai through the marine route, Naik said that a strong navy is mandatory, given the Indian neighbourhood and the geopolitical situation of India. Taking into account the growing challenges, the Indian Navy will have a big requirement of warships and submarines in the future. The Navy will place the orders for this. Naik said that a minimum of ₹3.5 trillion will be spent for these naval requirements, over the next 10 years. Naik said that the shipyards will be important for fulfilling these requirements, as the stress will be on carrying out shipbuilding on the indigenous principle.
Minister of State for Defence, Shripad Naik was speaking at a virtual conference regarding the opportunities for Goa Shipyard Limited and Mazagon Dock Shipyard Limited. 60% of the current provisions made for the Navy are for capital expenditures. 70% of the capital expenditure is on indigenous purchases. Naik underlined that ₹660 billion have been spent in the last five years on indigenous purchases.
The Minister of State for Defence, Shripad Naik also informed that more than 60 warships and submarines are being built in Goa Shipyard, Mazagon Shipyard, Garden Rich Shipbuilder, Hindustan Shipyard and Kochin Shipyard for the Indian Navy and Coast Guard.