India, Russia Finalize USD 500 million Deal for Construction of 2 Warships

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.

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