Indian Navy Set To Get Five Next-Gen Corvettes As GRSE Emerges Lowest Bidder For Rs 25,000 Crore Deal

Kolkata-based Garden Reach Shipbuilders and Engineers (GRSE) Ltd has emerged as the lowest bidder for the Indian Navy’s Next Generation Corvette (NGC) project.

The public sector shipbuilder will now be awarded the contract worth approximately Rs 25,000 crore to construct five advanced warships for the Indian Navy.

The contract, awarded under a competitive bidding process, will see GRSE build corvettes equipped for a range of maritime operations, including offensive surface-to-surface missile strikes, anti-missile defence, anti-submarine warfare, and maritime strike missions.

The ships will also feature green warship design principles, incorporating energy-efficient and environmentally friendly technologies.

GRSE has a longstanding track record in warship construction, having delivered 111 warships to Indian and foreign naval forces.

This includes six missile corvettes and four anti-submarine warfare corvettes.

The latest contract further consolidates its position as a major contributor to India’s indigenous naval capabilities.

The shipyard is concurrently executing multiple naval projects, including four Next Generation Offshore Patrol Vessels, three Advanced Guided Missile Frigates, and eight Anti-Submarine Warfare Shallow Water Crafts—one of which has already been delivered.

This comes as Muhammad Yunus led interim regime in Bangladesh has cancelled an order for an ocean-going tug from GRSE.

The GRSE said that the action on Bangladesh's part was on "anticipated lines", apparently referring to the ongoing tensions between New Delhi and Dhaka after the Yunus-led interim government was appointed in the neighbouring country following Sheikh Hasina's ouster.

"Meanwhile, on anticipated lines, the order for an Ocean-Going Tug for Bangladesh stands cancelled based on mutual discussions between GRSE and the Customer," the company said.

It added this order though would not have impact on GRSE’s finances as the order is worth only US$ 21 million (approximately Rs 179.75 crore) and would have contributed a mere 0.8 per cent to GRSE’s existing order book of Rs 22,680.75 crore as on 31 March 2025.

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