Daijiworld Media Network - New Delhi

New Delhi, Dec 4: The Union government on Thursday dismissed as “misleading” a media report that claimed India had signed a fresh agreement to lease a nuclear-powered submarine worth $2 billion from Russia.

In a fact-check issued on X, the Press Information Bureau (PIB) clarified that no new deal has been concluded. The submarine referenced in the report — published by Bloomberg — is linked to an existing contract signed in 2019, with delivery scheduled for 2028.

The Bloomberg article had suggested that India was preparing to finalise a major submarine lease ahead of Russian President Vladimir Putin’s two-day visit to New Delhi. The government, however, said this was inaccurate.

Reaffirming the strength of the India–Russia partnership, the PIB noted that bilateral ties have remained steady for nearly eight decades, rooted in a shared vision for a multipolar world and expanding cooperation beyond defence and space.

Official statements ahead of Putin’s arrival highlighted the rapid growth in bilateral trade over the past two years and ongoing discussions on boosting Indian exports. Both nations are also exploring deeper inter-regional engagement, especially with Russia’s Far East, while advancing connectivity projects such as the International North-South Transport Corridor, the Chennai–Vladivostok Maritime Corridor, and the Northern Sea Route.

Defence cooperation, the government reiterated, remains a cornerstone of the strategic partnership. The Indo-Russian military relationship has evolved from a buyer–seller model to joint research, development, and production of high-end systems. Russia continues to supply key platforms, engines, and components, while several major systems — including Su-30MKI fighter jets and T-90 tanks — are assembled or manufactured in India.

Both sides are also pursuing new opportunities for co-development and joint production aimed at third-country exports, with the BrahMos missile system standing out as a successful example.