$5.2bn project - Germany and India want to build diesel submarines together

India and Germany have moved a step closer to jointly building diesel submarines. This was reported by Bloomberg news agency.

Here's What We Know

The six-submarine project will cost $5.2 billion, with Germany's Thyssenkrupp AG and India's Mazagon Dock Shipbuilders Limited participating in the tender.

India is in need of submarines as its fleet of operational submarines is gradually becoming obsolete. The Indian Navy wants a minimum of two dozen submarines in service to ensure effective patrolling of the Indian Ocean. The service now has 16 submarines and 10 of them are more than 30 years old.

Because of the war in Ukraine, India is beginning to look for new arms suppliers. In parallel, German Chancellor Olaf Scholz is calling on local companies to increase arms supplies to India in order to reduce the Asian country's dependence on the Russian Federation.

Source: Bloomberg