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India, Russia Sign $3 Billion Deal For Nuclear-Powered Attack Submarine

New Delhi: India on Thursday sealed a $3 billion deal with Russia for leasing of a nuclear-powered attack submarine for the Indian Navy for a period of 10 years, military sources said. The two countries signed an inter-governmental agreement capping months of negotiations on price and various other aspects of the deal. Under the pact, Russia will have to deliver the Akula class submarine, to be known as Chakra III, to the Indian Navy by 2025. It will be the third Russian submarine to be leased to the Indian Navy. A spokesperson in the Defence Ministry refused to comment […]

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