![INS Chakra, an Akula-classed submarine leased from Russia Image: Indian Navy](http://media.assettype.com/bairdmaritime%2Fimport%2Fwp-content%2Fuploads%2Fmedia%2Fk2%2Fitems%2Fsrc%2F5e201817b82047c2a640acfff7447e2b.jpg?w=480&auto=format%2Ccompress&fit=max)
Russia is set to lease a nuclear-powered attack submarine to India for 10 years under a US$3 billion contract signed by the two countries on Thursday, March 7.
The submarine will be a Project 971 or Akula-class ship which will be named Chakra III in Indian service.
Delivery of the nuclear-powered submarine, the third such ship that Russia will lease to the Indian Navy, is scheduled for 2025.
A senior Indian Navy official has confirmed that Chakra III will be fitted with Indian sensors and communications systems under the lease contract.