Rs 70,000 Crore Submarine Deal: Larsen & Toubro Shares Update

The Indian Defence Ministry has rejected the bid by Larsen and Toubro (L&T), in partnership with Spanish firm Navantia, for the Rs 70,000 crore Project 75 India. This project aims to acquire six advanced submarines capable of staying underwater for up to three weeks.

L&T's bid was deemed non-compliant as its Air Independent Propulsion (AIP) system, demonstrated onshore in Spain, did not meet the Indian Navy's requirement for a sea-proven system.

L&T Bid: Details

Defence Ministry deems L&T proposal non-compliant in Rs 70,000 crore submarine purchase. L&T has been a key player in strategic submarine projects for the Indian Navy, with advanced facilities supporting defense initiatives across India's east and west coasts.

With L&T's bid disqualified, Mazagon Dock Shipbuilders Limited (MDL) and its German partner ThyssenKrupp Marine Systems remain the only participants in the race. MDL has previously delivered six Scorpene-class submarines under Project 75 and is expected to construct three more with French Naval Group support.

Indian Navy Sub Marine

India’s submarine projects, including both nuclear and conventional vessels, are critical to countering the rapid modernization of the Chinese Navy and addressing challenges from China and Pakistan. Despite some progress, India needs to accelerate its submarine development to meet strategic demands in its region.

L&T Chairman's 90 Hour Debate

L&T Chairman SN Subrahmanyan recently sparked a debate on work-life balance with a controversial statement advocating for a 90-hour workweek. His remarks, including comments about working on Sundays and dismissive references to home life, have drawn widespread criticism.