The Indian Navy’s submarine strength is projected to fall by 30 per cent in 2015 and 50 per cent in 2020, at the current pace of the acquisition process.
The Indian Navy’s submarine strength is projected to fall by 30 per cent in 2015 and 50 per cent in 2020, at the current pace of the acquisition process.
A cost escalation of 50 percent (INR 63,000 crore, in this case) or more, requires approval again from the Ministry of Finance, before the Defense Acquisitions Council (DAC) can proceed with it. With the cost of the tender for India safely ranging from INR 83,000 crore to 1,25,000 crore, the revision of the estimated expenditure on the MMRCA would require the approval of the finance ministry.