Mazagon Dock

Germany and India are closing in on a deal to build diesel submarines for Indian waters as Russia’s prolonged war in Ukraine has pushed the Indian government to expand its sources of military hardware beyond its top supplier, according to a report by Bloomberg. Thyssenkrupp AG’s marine arm and India’s Mazagon Dock Shipbuilders Limited are likely to jointly bid for an estimated $5.2 billion project to build six submarines for the Indian navy, said the report. The preliminary agreement or the memorandum of understanding will be signed in the presence of Defense Minister Boris Pistorius who arrived in New Delhi on June 5 for a two-day visit, according to German and Indian officials