Garden Reach Shipbuilders & Engineers (GRSE) has emerged as lowest bidder (L1) for the construction of next generation corvettes (NGC) for Indian Navy.
GRSE attended the Commercial Negotiation Committee (CNC) meeting convened by the Ministry of Defence (MoD) for opening of commercial bids for the acquisition of eight next generation corvettes on 21 May, 2025 in New Delhi.
During the meeting, the commercial bids were opened and it was noted that GRSE become the lowest bidder.
The L1-bidder will be awarded five NGC ships at a likely value of more than Rs 25,000 crore.