GRSE Drops Anchor on ₹25,000 Cr Corvette Contract

Garden Reach Shipbuilders & Engineers (GRSE) has been declared the lowest bidder (L1) for the construction of the Indian Navy’s Next Generation Corvettes (NGCs).

The announcement was made during the Commercial Negotiation Committee (CNC) meeting organized by the Ministry of Defence (MoD) on May 21, 2025, in New Delhi. The meeting involved the formal opening of commercial bids for the procurement of eight NGCs.

Following the bid evaluation, GRSE was identified as the lowest bidder. As the L1 bidder, GRSE is expected to be awarded the contract for five of the eight NGCs, with the estimated contract value exceeding ₹25,000 crore.

News by Rahul Yelligetti.