Defence Ministry signs Rs 4,106 crore deals for GSAT-7C satellite, Varunastra torpedoes
India's Ministry of Defence has signed contracts worth about Rs 4,106 crore for the GSAT-7C communication satellite and Varunastra anti-submarine torpedoes, both built domestically.
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what happened
India's Ministry of Defence has signed contracts totalling about Rs 4,106 crore. The largest share, Rs 2,563 crore, goes to New Space India Limited of Bengaluru for GSAT-7C, a secure communication satellite for the Indian Air Force that the ministry says is designed, developed and manufactured in India.
Bharat Dynamics Limited of Hyderabad will receive Rs 1,543 crore for Varunastra, a ship-launched heavy-weight anti-submarine torpedo developed by the Naval Science and Technological Laboratory. The weapon can engage enemy submarines at long range. The contracts were signed on October 15, 2026, in New Delhi in the presence of A Anbarasu, Additional Secretary and Director General (Acquisition) of the Department of Defence.
why it matters
For listed defence suppliers, orders of this size add to order books and improve revenue visibility over the coming years. The government's push for domestic manufacturing suggests local vendors will keep an edge in future procurement. The announcement does not give delivery schedules or payment terms, and those will determine how quickly the contracts show up in company results.
tags
instruments
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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