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Mazagon Dock shares jumped more than 8% after reports suggested India may soon finalise a ₹99,000 crore submarine deal with Germany’s Thyssenkrupp Marine Systems (TKMS).
Breaking it down: the deal is part of Project 75(I), one of India’s most ambitious naval programmes. Under the plan, six advanced conventional submarines designed by TKMS would be built in Mumbai by Mazagon Dock through a technology partnership.
If it goes through, this would be one of India’s largest-ever defence procurement deals. Naval projects of this scale typically run into tens of thousands of crores and take years to execute.
Why it matters: India currently operates a limited submarine fleet while China rapidly expands its naval capabilities in the Indo-Pacific.
Strengthening submarine capacity helps India secure key sea routes, monitor adversaries and protect maritime trade corridors.
The deal also fits into India’s broader “Make in India” defence push. Instead of importing fully built submarines, the plan is to manufacture them locally, boosting domestic shipbuilding expertise and creating a long pipeline of defence orders.
