The German engineering and steel production conglomerate Thyssenkrupp is set to build six submarines for the Indian navy in a multi-billion-dollar deal after a bid with its Indian partner was approved.

The conglomerate's shipbuilding division, known as Thyssenkrupp Marine Systems (TKMS), teamed up with India's state-owned Mazagon Dock Shipbuilders (MDS) for the contract. Both companies recently confirmed that India's Ministry of Defense had opened the bid for "further processing."

The bid was the only one to clear the navy's field trials, beating off competition from Spanish company Navantia, which had partnered with India's Larsen & Toubro.

An exchange filing by MDS said the Indian Ministry of Defense had invited the company for commercial negotiations. Media reports quoting people close to the discussions put the value of the project at around $5.2 billion (€5 billion), but the final figure could be higher.

In a statement provided to DW by Thyssenkrupp, Oliver Burkhard, CEO of TKMS, said, "By acting in partnership, and with the support of the German and Indian governments MDL and Thyssenkrupp Marine Systems will be setting standards for a sustainable and safe maritime future."

The deal is not necessarily a sign that India's dependence on Russian military imports will be reduced anytime soon. According to the Stockholm International Peace Research Institute (SIPRI), Russia accounted for 36% of India's........

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