India has finalized financial terms for the $2-3 billion lease of INS Chakra III, a modernized Akula-class nuclear-powered attack submarine from Russia, ahead of President Vladimir Putin’s visit. The intergovernmental agreement was originally signed on March 7, 2019, per The New Indian Express, committing Russia to deliver the vessel by 2025 after upgrades including Indian communication systems and potential BrahMos missile integration. Delayed by the Russia-Ukraine conflict and refits at Severodvinsk, the 10-year lease submarine—likely K-391 Bratsk—is now slated for induction by late 2027-2028, bolstering India’s underwater deterrence post-INS Chakra II’s 2021 return, as detailed in idrw.org on December 3, 2025. This strengthens the Navy’s strategic edge in the Indian Ocean amid indigenous SSN development under Project 77.