~ 7.3 billion USD
Mazagon Dock Shipbuilders Limited (MDL) and German yard thyssenkrupp Marine Systems (tkMS) will build the submarines in Mumbai. | India News
www.hindustantimes.com
I'm quite baffled at the apparent speed of Project-75I's contract progression in recent times...to the point where I have to wonder if it's just a coincidence that the P-75I program began to accelerate at around the same time as the negotiations for a Free Trade Agreement (FTA) with the European Union also saw tremendous acceleration. This FTA was being negotiated at a slow pace for over 18 years, with either side making little to no progress at each round of meetings...and then boom, everything was falling into place and we went from concluding negotiations to putting pen on paper in just a few quick months at the end (though the FTA may yet take some time to be ratified by each of the EU member nations' Parliaments).
Obviously, Trump's tariff regimes were the kick-start that both India & the EU needed to start looking toward other markets and conclude new trade deals as quickly as possible.
I'm left to wonder if the renewed interest and pace of progression in the P-75I (another deal that was stuck in an endless loop for a decade) is a form of quid-pro-quo to 'lubricate' the FTA negotiations, or potentially help India gain more favourable terms of trade. Germany is of course the biggest economy in Europe and is the primary party that you have to deal with if you want those favourable terms.
It's just a theory though!
Oh and by the way, it seems there's also significant progress being made in parallel in the Project-76 program, an entirely indigenous diesel-electric submarine project, for which a requirement of 6 to 12 boats was stated. Apparently, the process of detailed technical design is underway (as per Sandeep Unnithan who is very reliable), with significant inputs from both the Arihant-class as well as the Scorpene-class build programs.
Interestingly, P-76 is apparently being pursued under the ATV program! And it will be a single-hulled submarine (so not just a denuclearized Arihant, which is double-hulled) and will displace around 3,000 tons. First orders for onboard equipment are expected to go out by 2028 or so.