The Indian Navy is setting its sights on the acquisition of a third aircraft carrier, with the proposal slated for discussion at the upcoming Defence Acquisition Council (DAC) meeting next month.

The carrier project has recently achieved a significant milestone by securing approval from the Defence Procurement Board (DPB), a decision-making body presided over by the defense secretary and comprising the three vice chiefs.

This ambitious project, with an estimated budget of Rs 40,000 crore, boasts a predominantly indigenous nature and promises to be a significant catalyst for the burgeoning shipbuilding industry in India.