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Defence Ministry signs Rs 53,866 crore deal for eight next-gen Navy corvettes

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India's Defence Ministry has signed contracts with two shipyards to build eight next-generation corvettes for the Navy. Garden Reach Shipbuilders & Engineers will construct five of the vessels, while Goa Shipyard Limited will build the remaining three. The ships are intended to strengthen the Navy's operational capabilities. The project also supports the country's indigenous shipbuilding push. It is expected to generate substantial jobs in shipbuilding and related industries over the next decade.

Read the full story at Times of India

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