Navy signs Rs 53,866 crore deal for eight home-designed Next Generation Corvettes

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India's Ministry of Defence has signed contracts worth Rs 53,866.50 crore for eight Next Generation Corvettes. Garden Reach Shipbuilders & Engineers and Goa Shipyard Limited will construct the vessels. The Indian Navy designed the ships in-house. The corvettes are meant to strengthen maritime capabilities and replace older ships in the fleet. The project is also expected to generate substantial employment in shipbuilding and allied industries.

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