New Delhi, Sept. 1 -- India is preparing to finalise two major submarine procurement projects worth over Rs 1 lakh crore, aimed at boosting the Indian Navy's underwater combat strength.

These agreements are considered critical to enhancing India's maritime security and countering the growing Chinese presence in the Indian Ocean.

The first deal, estimated at Rs 36,000 crore, involves the purchase of three additional Scorpene-class submarines under Project-75. The vessels will be built jointly by Mazagon Dock Shipbuilders (MDL) and France's Naval Group.

Although approved by the Defence Ministry more than two years ago, the project has faced delays due to pending technical and commercial clearances.

The second project, even larger in sca...