Germany's Thyssenkrupp eyes submarine deal with Indian Navy to reduce reliance on Russian weapons.
Thyssenkrupp's marine arm is expected to bid for a project to supply six submarines for the Indian Navy, as Germany and India aim to boost their defense manufacturing and counter China's growing presence in the Indian Ocean. The deal is expected to be signed with India's Mazagon Dock Shipbuilders on Wednesday, with the value of the agreement expected to be about 7 billion euros. India approved a budget of $6.8 billion for its navy in March, which has 16 conventional submarines, 11 of them more than two decades old, along with two indigenous nuclear-powered submarines.