India signs ₹53,866 cr deal for 8 Navy corvettes

India's Defence Ministry signed contracts worth ₹53,866.50 crore with GRSE and GSL for eight Next Generation Corvettes for the Indian Navy. GRSE will build five and GSL three. The vessels, designed by the Indian Navy, will carry advanced missiles and sensors. The project is expected to generate around 532 lakh person-days of employment over ten years.