₹40,000-crore corvette programme moves towards contracts for GRSE and Goa Shipyard

The Cabinet Committee on Security (CCS), chaired by Prime Minister Narendra Modi, has reportedly approved a programme worth more than ₹40,000 crore to build eight next-generation corvettes for the Indian Navy. Garden Reach Shipbuilders & Engineers (GRSE) and Goa Shipyard Limited (GSL) are expected to construct the vessels, with formal contracts to follow.

The clearance was granted at the committee’s meeting on 28 October 2026, according to government officials cited in reports. The first vessel is targeted for delivery by 2030. The approval advances a procurement programme that received its initial clearance in June 2022.

Kolkata-based GRSE is expected to construct five vessels, with Goa Shipyard building the remaining three.

GRSE’s stock exchange disclosure dated 21 May 2025 confirmed that it had emerged as the lowest bidder when the Ministry of Defence opened commercial bids for the eight-ship programme in New Delhi.

This story was originally published by Maritime Gateway. Read the full story at Maritime Gateway →