India Denies $2 Billion Nuclear Submarine Deal with Russia: What You Need to Know

Clarification on Submarine Lease Report

New Delhi: On Thursday, the Indian government dismissed claims regarding a $2 billion nuclear submarine lease from Russia, labeling the report as 'misleading'.

The Press Information Bureau (PIB) clarified via a fact-check on X that no new agreements have been made between India and Russia.

According to the PIB, the submarine mentioned in the Bloomberg article is part of a contract established nearly six years ago in 2019, with delivery expected in 2028.

The Bloomberg report surfaced just before Russian President Vladimir Putin's two-day visit to India, suggesting that India was on the verge of finalizing the submarine lease.

The PIB emphasized that the India-Russia relationship has been robust and stable for 78 years, focusing on a multipolar world and expanding cooperation beyond military and nuclear realms.

In recent years, bilateral trade has seen significant growth. During President Putin's visit, discussions will revolve around enhancing Indian exports and exploring new cooperation models.

Both nations aim to bolster inter-regional collaboration, particularly with the Russian Far East, and promote connectivity initiatives like the International North-South Transport Corridor and the Chennai-Vladivostok Eastern Maritime Corridor.

The PIB also noted that defense remains a crucial aspect of the strong partnership between India and Russia.

The military technical cooperation has transitioned from a simple buyer-seller model to one that includes joint research, development, and production of advanced defense technologies.

Russia continues to be a key supplier of defense equipment, engines, and components, with several platforms like T-90 tanks and Su-30 MKI aircraft being assembled in India.

Both countries are also investigating co-development and co-production opportunities for defense systems, including potential exports like the BrahMos missile.