India has finalized a long-pending agreement with Russia to lease a nuclear-powered attack submarine for about $2 billion, according to people familiar with the development. The conclusion of the deal comes just days before Russian President Vladimir Putin arrives in New Delhi for a high-profile visit aimed at reaffirming defence and energy ties between the two long-time partners.

The agreement marks a major step forward in India’s efforts to strengthen its underwater capabilities at a time when the strategic environment in the Indo-Pacific continues to evolve rapidly.

A Decade-Long Negotiation Finally Moves Forward

For nearly ten years, talks on leasing the submarine were stuck on multiple issues—particularly pricing. Officials on both sides repeatedly tried to revive discussions, but

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