India signs contracts worth $14 billion for eight next-generation Navy corvettes

On November 2, 2026, India's defence ministry signed ₹53,866.5 crore contracts with Garden Reach Shipbuilders & Engineers and Goa Shipyard Limited to build eight Next Generation Corvettes for the Indian Navy. Designed in-house by the Navy, the 3,800-to-4,000-tonne warships will replace ageing Khukri and Kora-class vessels. Deliveries begin in 2030, generating 532 lakh person-days of total employment while supporting India's self-reliance goal for 2047.

Contract details and shipyard allocation

• ▪India's defence ministry signed contracts worth ₹53,866.5 crore with GRSE and GSL to procure eight Next Generation Corvettes for the Indian Navy
• ▪Under the contracts for eight Next Generation Corvettes signed on November 2, 2026, Garden Reach Shipbuilders & Engineers Limited will construct five corvettes, while Goa Shipyard Limited will construct three

Statements by defence minister Rajnath Singh

• ▪Defence Minister Rajnath Singh posted on X that the Next Generation Corvette project under contracts signed on November 2, 2026 reinforces Prime Minister Narendra Modi's commitment to the Make in India initiative
• ▪Defence Minister Rajnath Singh stated that the Next Generation Corvette project under contracts signed on November 2, 2026 will bolster India's shipbuilding sector by fostering collaboration among public shipyards, private firms, and MSMEs

In-house design and feasibility

• ▪The Next Generation Corvette project, under contracts signed on November 2, 2026, represents the first time Indian Navy warships are designed in-house by the Navy and built by Defence Public Sector Undertakings selected competitively
• ▪The Indian Navy worked for four years prior to the contract signing on November 2, 2026 on whether Indian public sector yards could deliver an in-house designed warship at scale