India seals $2 billion deal to lease a potent nuclear-powered attack submarine from Russia, significantly enhancing its naval capabilities. This strategic agreement, finalized during a high-profile visit, marks a crucial step in bolstering India’s undersea defense for the next decade.
Understanding Why India Seals $2 Billion Deal for Naval Strength
India has finalized a significant $2 billion deal with Russia to lease an Akula-class nuclear-powered attack submarine for a period of ten years. This critical agreement, known as ‘Project Chakra’, was successfully concluded during Russian President Vladimir Putin’s visit to New Delhi. The new submarine, expected to be delivered to the Indian Navy by 2025, will be named Chakra III and will serve to enhance India’s underwater warfare capabilities greatly.
This marks the third instance of India leasing a nuclear submarine from Russia. The previous Akula-class submarine, INS Chakra (formerly Nerpa), was leased in 2012 for a decade and is scheduled to return to Russia in 2022. The new lease ensures continuity and strengthens India’s naval power, especially its ability to deter threats beneath the waves. The deal underscores the strong and enduring defense ties between India and Russia, aiming to provide a substantial boost to India’s maritime security.