Rs 40,000 crore cleared for eight next-generation warships for the Indian Navy

• The Cabinet Committee on Security has cleared a project worth over Rs 40,000 crore for eight next-generation corvettes.
Contracts are expected within days with Garden Reach Shipbuilders in Kolkata and Goa Shipyard Limited.
The first ship is expected by 2030. The design is a new in-house one from the Indian Navy.
The project was first cleared in principle in June 2022, at an estimated Rs 36,000 crore.

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