Government to start Rs 60,000 crore submarine plan

India will soon have more submarines in its possession as the government will roll out a Rs 60,000 crore submarine plan under a major policy for defence manufacturing in the country. This is the first project to be launched under the 'Strategic Partnership' (SP) model that was agreed upon last month. The project will allow private companies to participate in defence production. Official sources said that the Union Defence Ministry will soon kick-start the process for the mega deal. Only two defence firms, Larsen and Toubro and Reliance Defence are eligible to participate in the P-75 (I) programme. Currently, six Scorpene-class submarines are being built under 'Project 75' of the Indian Navy. The French naval defence and energy company DCNS have designed the submarines and they are being constructed at the Mazgaon Dock in Mumbai.  The project will be followed by project P-75 (I) under which another six submarines are slated to be built. The Strategic Partnership model will allow select private firms to build military platforms like submarines and fighter jets in India in partnership with foreign entities. The government will also make provisions to shortlist foreign original equipment manufacturers (OEMs) for the project.