India Signs USD 3 Billion Deal with Russia to Lease Nuclear Submarine for 10 Years

• The Government of India has signed a USD 3 billion deal with Russian Government for the lease of a nuclear-powered attack submarine for the Indian Navy for a period of 10 years.

• Russia will deliver its Akula class submarine to the Indian Navy by 2025. This submarine will be known as Chakra III.

• It will be the third Russian submarine to be leased to the Indian Navy.

• The first Russian nuclear-powered submarine was INS Chakra I taken in 1988 under a three year lease.

• A second was INS Chakra II taken on lease in 2012 for a period of 10 years.