Mar 01, 2024 16:49 UTC
  • India inks contracts worth $2.36 billion to procure nuclear-capable missiles

India has inked pivotal contracts to procure nuclear-capable BrahMos missiles for its navy at a cost of 195.2 billion rupees ($2.36 billion), the government said in a statement.

Out of the five contracts that India's Ministry of Defense signed on Friday, two were with BrahMos Aerospace Private Limited (BAPL) to buy BrahMos missiles and ship-based BrahMos systems for the Indian Navy.

"This system is the Indian navy's primary weapon for maritime strike operations fitted onboard various frontline warships,” the press release highlighted.

“The system is capable of hitting land or sea targets from extended ranges with pinpoint accuracy at supersonic speeds,” it further said.

"These missiles would be utilized to meet combat outfit and training requirements of the Indian navy," the government highlighted.

The five contracts totaled 390 billion Indian rupees ($5 billion).

"These deals will further strengthen indigenous capabilities, save foreign exchange and reduce dependency on foreign origin equipment manufactures in future," the official release stated.

The deal comes a day after India and Mauritius jointly inaugurated an Indian-financed air base on the island of Agalega in Mauritius.

The South Asian country previously approved the purchases of 200 BrahMos missiles.

The ministry also signed a contract to purchase a ship borne missile system for 9.88 billion rupees.

The BrahMos missile being built in a joint-venture between the Indian Defense Research and Development Organisation (DRDO) and Russia’s NPO Mashinostroyeniya, is a medium-range ramjet supersonic cruise missile that can be launched from submarines, ships, fighter aircraft or a transporter erector launcher (TEL).