India is poised to finalize four significant defence contracts valued at over ₹1.5 lakh crore before the fiscal year ends on March 31, 2025. These deals are crucial for enhancing India's military capabilities and include:

26 Rafale-Marine Fighter Jets

India is set to acquire these jets from France, which will bolster the Indian Navy's operational capabilities, particularly for its aircraft carrier, INS Vikrant. The deal is estimated to be worth around ₹50,000 crore and involves 22 single-seat and four twin-seat jets.

Three Scorpene Submarines

Also part of the package is the procurement of three additional Scorpene-class submarines, which will be constructed in collaboration with French Naval Group and Mazagon Dockyard Limited (MDL). This deal is expected to cost approximately ₹30,000 crore and aims to enhance India's underwater combat capabilities.

156 "Prachand" Combat Helicopters

These helicopters will further strengthen India's aerial combat capabilities, although specific financial details were not highlighted in the latest reports. The 156 new Prachand helicopters (90 for Army, 66 IAF), which are capable of offensive operations in high-altitude areas like Siachen Glacier and eastern Ladakh, will be manufactured by Hindustan Aeronautics Limited. They will add to the 15 such choppers (10 IAF and five Army) already inducted under a ₹3,887 crore contract inked in 2022.

307 Advanced Towed Artillery Gun Systems

This acquisition aims to modernize India's artillery capabilities, although detailed financial terms have yet to be disclosed. With Bharat Forge emerging as the L-1 (lowest bidder), it will manufacture 60% of the guns, while Tata will produce the rest 40%. The order for 307 ATAGS is likely to go up in the future because the Army plans to induct “more advanced versions” for a total requirement of 1,580 such guns.
“The aim is to sign all the four deals within this fiscal. Work is also underway to revise the Defence Acquisition Procedure-2020 to further cut down procurement timelines, streamline processes and provide a level playing field to all,” another source said.

These contracts are part of a broader strategy to modernize India's armed forces amid increasing regional security challenges, particularly in light of China's expanding naval presence. The Indian government has made substantial budgetary allocations to support these initiatives, reflecting a commitment to enhancing self-reliance in defence manufacturing.

TNN