India is advancing its maritime ambitions with a clear target of building a formidable and networked blue-water Navy comprising more than 200 warships and submarines by 2035. This expansion is aimed at safeguarding the country’s vast oceanic interests and countering the growing combined threat from China and Pakistan at sea. Currently, 55 warships of varying sizes are under construction in Indian shipyards, at an estimated cost of Rs. 99,500 crore, according to the sources.
At present, the Navy operates 140 warships, including 17 diesel-electric submarines and two nuclear-powered ballistic missile submarines, supported by more than 250 aircraft and helicopters.
With older vessels due for retirement, plans are underway to scale the force to over 200 warships and submarines, along with 350 aircraft and helicopters over the next decade. The strength could potentially touch 230 warships by 2037, reinforcing India’s focus on maritime supremacy.
India’s naval modernization emphasizes submarine capabilities, spotlighting a few leading defence companies that are trusted partners of the Indian Navy.
1. Mazagon Dock Shipbuilders Ltd
Mazagon Dock Shipbuilders Limited (MDL), a Navratna defence PSU under the Ministry of Defence, is an Indian shipyard with the capability to build a wide range of frontline warships and submarines.
With a market capitalization of Rs. 1,18,634.06 crore and a current market price of Rs. 2,940.30, MDL has been central to India’s naval indigenization, having delivered 30 warships and eight submarines since 1960.
India entered the elite league of submarine-building nations in 1992 with the commissioning of INS Shalki, followed by INS Shankul in 1994. Both submarines remain in active service, demonstrating the long-term reliability of MDL’s construction. Over the years, the company has proven itself as a trusted partner of the Indian Navy, consistently delivering complex platforms with indigenous capabilities.
The shipyard has successfully executed the prestigious Project-75, under which six Scorpene-class submarines were constructed in collaboration with France’s Naval Group. These modern submarines, equipped for multiple warfare roles, now form a crucial part of the Navy’s arsenal. The most recent addition, INS Vaghsheer, was commissioned in January 2025, further cementing MDL’s standing as a submarine specialist.
Looking ahead, MDL’s capacity expansion allows it to construct 11 submarines and 10 major warships simultaneously. The company is poised to benefit from upcoming orders, including additional P-75 submarines and the high-value Project-75(I) program with German collaboration. Together, these contracts could raise MDL’s order book from Rs. 32,000 crore to over Rs. 1.25 lakh crore, strengthening its leadership in undersea warfare platforms.
2. Bharat Dynamics Ltd
Bharat Dynamics Limited (BDL), established in 1970 under the Ministry of Defence, is a key manufacturer of guided missile systems and allied equipment for the Indian Armed Forces.
With a market capitalization of Rs. 58,136.81 crore and a current market price of Rs. 1,585.10, BDL has evolved into a multi-product, multi-location enterprise supplying internationally benchmarked defence equipment.
BDL plays a crucial role in submarine warfare through its advanced underwater weapon systems. Its heavyweight torpedo Varunastra is a state-of-the-art, ship-launched anti-submarine weapon capable of targeting hostile submarines in both shallow and deep waters. With advanced homing, multi-manoeuvring, and tracking features, Varunastra enhances the Navy’s ability to dominate undersea battles.
In addition, BDL produces the TAL-XP lightweight torpedo, which can be deployed from ships and helicopters, thereby extending anti-submarine warfare capabilities across naval platforms. These indigenous systems underline BDL’s strategic role as a trusted supplier for India’s expanding fleet of submarines and naval aircraft.
The company is also capable of integrating comprehensive Anti-Submarine Warfare Suites, which include torpedoes, torpedo defence mechanisms, and fire control systems. This integrated approach strengthens BDL’s importance in India’s submarine ecosystem, positioning it as a key partner in delivering indigenous, next-generation undersea defence solutions.
3. Bharat Electronics Ltd
Bharat Electronics Limited (BEL), incorporated in 1954, is a leading defence electronics manufacturer supplying advanced systems to the Indian Armed Forces. With a market capitalization of Rs. 2,92,427.70 crore and a current market price of Rs. 399.90, BEL is a dominant player in naval and submarine-related electronic solutions, with a portfolio spanning radars, sonar, combat management systems, and communication networks.
BEL has developed a range of naval systems designed for submarine detection, tracking, and engagement. Its sonar technologies and advanced torpedo defence systems enable the Navy to counter underwater threats effectively. These systems integrate seamlessly with BEL’s fire control and electronic warfare solutions, strengthening the Navy’s submarine and anti-submarine capabilities.
The company is also the lead integrator of the Long Range Surface-to-Air Missile (LRSAM) system for stealth frigates, enhancing overall fleet defence. In addition, BEL provides combat management systems that integrate sensors and weapons, allowing for real-time command and control in submarine warfare scenarios.
By indigenously developing strategic technologies such as shipborne SAM systems, navigation solutions, and data networks, BEL has cemented its position as a reliable partner for the Indian Navy.
Its contributions to submarine detection and tracking systems, along with its role in electronic warfare, place BEL at the forefront of India’s push for maritime self-reliance.
Written By Manan Gangwar
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