The Cabinet Committee on Security (CCS), chaired by Prime Minister Narendra Modi, has approved a project worth over Rs 40,000 crore to build eight Next-Generation Corvettes (NGCs) for the Indian Navy. The warships will be constructed by two state-owned shipyards, Garden Reach Shipbuilders and Engineers (GRSE) in Kolkata and Goa Shipyard Limited (GSL).

The approval came during a CCS meeting on Wednesday. The contract for the eight warships is expected to be signed with the two shipyards in the coming days. Defence sources told India Today that this is the first major defence project to receive clearance at the highest level in recent times. The project aims to strengthen the Navy's surface fleet and boost indigenous warship production.

The eight corvettes will be approximately 2,000-tonne high-speed combat vessels, capable of reaching speeds of around 30 knots. They will feature a new stealth design developed in-house by the Indian Navy, using advanced shipbuilding technologies.

Designed as multi-role platforms, the warships will carry out anti-surface, anti-submarine and anti-air warfare missions. They will also support coastal defence, maritime patrol, search and rescue operations across the Indian Ocean Region (IOR). Their stealth capabilities, advanced weapons, sensors and high manoeuvrability are expected to improve the Navy's operational strength.

The project will have more than 70 per cent indigenous content, supporting the government's Atmanirbhar Bharat initiative and efforts to expand domestic defence manufacturing. Building all eight vessels in India will also support the government's SAGAR (Security and Growth for All in the Region) vision.

The order will be divided between GRSE in Kolkata and GSL in Goa. It is expected to provide both shipyards with long-term business and generate thousands of direct and indirect jobs across the MSME sector.

Construction of the first corvette is expected to begin within a year. The Navy is targeting its delivery by 2030 and is working to speed up construction. Deliveries of the warships are expected to begin over the next four to five years, according to defence sources.

The project comes amid the Navy's ongoing fleet modernisation efforts to address growing maritime security challenges in the Indian Ocean Region, particularly the increasing Chinese presence. Its ongoing warship-building programme also includes Nilgiri-class frigates, next-generation destroyers and fleet support ships.