India and Russia sealed a USD 500 million deal for construction of two missile frigates in Goa for the Indian Navy, sending a clear signal of continuing with high-level defence collaborations notwithstanding the US warnings of sanctions.
The agreement for manufacturing of the two Talvar-class warships was signed between defence PSU Goa Shipyard Ltd (GSL) and Russia’s state-run defence major Rosoboron export under the government-to-government framework for defence cooperation.
Source- The Economic Times
Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:
- Admiral Sunil Lanba is the present chief of Naval Staff of Indian Navy.