PM Modi Invites Swedish Companies to Promote "Make in India"

PM Modi Invites Swedish Companies to Promote “Make in India” 

On Sunday, Prime Minister Narendra Modi called on Swedish and European businesses to invest in India, emphasizing the nation's quick reforms, expanding manufacturing sector, and developing technological ecosystem.  Speaking at the European Round Table for Industry in Gothenburg, Modi claimed that during the past ten years, policy changes, infrastructure development, and digital transformation had propelled…

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A significant submarine manufacturing deal that could rank among the two nations’ biggest defense agreements is almost complete between Germany and India. Under Project-75, six cutting-edge Type 214 conventional submarines would be built for the Indian Navy. 

With an estimated US$8 billion investment, Mazagon Dock Shipbuilders Limited (MDL) and Germany’s ThyssenKrupp Marine Systems (TKMS) will construct the submarines in India. The submarines will include cutting-edge Air-Independent Propulsion (AIP) technology, which will allow for improved stealth and extended underwater endurance. 

The deal, which is almost ready for final clearance, is a component of India’s larger submarine action plan, which aims to improve underwater defense capabilities in the face of escalating regional security threats. As part of the collaboration, MDL will manage construction and delivery with a substantial amount of indigenous content, while TKMS will support technology, engineering, and design. 

There are now sixteen conventional submarines in the Indian Navy, many of which are getting older. Under the government’s drive for self-reliance, the agreement is anticipated to modernize India’s underwater fleet and increase domestic defense production. 

Source – Newspoint