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German defence minister says Thyssenkrupp AG is likely to bid for a project to supply 6 submarines for Indian navy. India is looking to boost domestic defence manufacturing as it aims to counter China’s growing presence in Indian Ocean. In march, India approved a budget of $6.8 billion for its navy. Indian navy has 16 conventional submarines, 11 of them over 2 decades old, along with 2 indigenous nuclear-powered submarines.Credit WION
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