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India, Russia sign deal on nuclear submarine
Why is it in news?
- India sealed a $3-billion deal with Russia for leasing a nuclear-powered attack submarine for the Indian Navy for a period of 10 years.
- The two countries signed an inter-governmental agreement capping months of negotiations on price and other aspects of the deal.
More in news
- Chakra III:(1) Under the pact, Russia will have to deliver the Akula class submarine, to be known as Chakra III, to the Indian Navy by 2025.(2) It will be the third Russian submarine to be leased to the Navy.
- Countering China: India has been significantly bolstering its naval prowess in the backdrop of China’s attempts to expand its influence in the Indian Ocean region.
Previous Chakra submarines on lease
- INS Chakra: In 1988, the Indian Navy leased for three years a nuclear-powered cruise missile submarine that was named INS Chakra.
- Chakra II:(1) In 2012, it took on lease for 10 years, a second submarine named Chakra II, which currently serves with the Eastern Naval Command.(2) India and Russia are discussing extending the lease of this submarine to 2027.
Source
The Hindu, Livemint