India-Russia Sign $3 Billion Nuclear Submarine Deal

India has inked a deal to lease a nuclear-powered attack submarine for 10 years from Russia for US$ 3 billion.

India-Russia signed the deal after months of negotiations. As per the deal Russia will deliver the Akula class submarine, which will be called  Chakra III to the Indian Navy by 2025.

India is working to boost it’s naval vessels to counter China in the Indian Ocean, and this would be the third vessel India is leasing from Russia.

India earlier leased INS Chakra I in 1998, and then Chakra II was leased in 2012 for a period of 10 years. India is looking to extend the lease for Chakra II beyond 2022.

India nor Russia have officially confirmed that the deal was signed.

The Chakra III will have a submerged speed of 30 knots, and an operating depth of 530 meters. It can hold a crew of 73. The submarine uses a 190 megawatt nuclear reactor for propulsion.