Bloomberg: India leases nuclear submarine from Russia for $2 billion
India will pay about $2 billion to lease a nuclear submarine from Russia. This was reported by the agency Bloomberg with reference to unnamed interlocutors familiar with the matter.
They said that an agreement would be reached after about 10 years of negotiations, just as the Russian dictator Vladimir Putin will visit New Delhi this week.
Negotiations on the lease of a submarine from Russia have been stalled for years due to a lack of agreement on the price.
The two sides have now agreed on a deal, and Indian officials will visit the Russian shipyard in November, the sources said. India expects to receive the vessel within two years, although the complexity of the project means that this could happen later, they added.
Putin is due to arrive in India on Thursday, December 4, on his first visit to the country since Russia's full-scale invasion of Ukraine. He will meet with the Indian Prime Minister Narendra Modito emphasize the defense and energy ties between the two countries.
On the eve of Putin's visit, Indian Navy Chief of Staff Dinesh Tripathi told reporters that the submarine is expected to be commissioned in the near future, without providing details. The submarine will be larger than the two already in the country's fleet.
India's Ministry of External Affairs and Ministry of Defense did not respond to emails requesting additional information. The Russian Ministry of Foreign Affairs, Ministry of Defense and Rosoboronexport also did not respond to requests for comment.
India has developed submarine-launched ballistic missiles (SLBMs) capable of carrying a nuclear payload. Theoretically, this gives the country the so-called nuclear triad – the ability to deliver nuclear weapons from land, sea and air, according to a report by the Nuclear Threat Initiative.
Nuclear-powered submarines are significantly superior to their diesel-electric counterparts. They are typically larger, can stay underwater for much longer, and are quieter, making them harder to detect, especially when patrolling large areas of the Indian and Pacific Oceans. India currently has 17 diesel-powered submarines, according to the NTI report.
According to the terms of the lease, the Russian submarine cannot be used in war. It will help India train sailors and improve nuclear submarine operations as it builds its own vessels.
The leased vessel will be part of the Indian Navy for 10 years. The last Russian boat, also leased for 10 years, returned in 2021. The lease agreement will include maintenance, the sources said.
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