India's Nibe Ltd Signs MoU with France's Naval Group on Naval Shipbuilding and Defence Technologies

Key facts

• On September 18, 2026, Indian defence engineering firm Nibe Ltd signed a Memorandum of Understanding (MoU) with France's Naval Group covering naval shipbuilding and defence technologies.
• The partnership covers underwater drones and their integration onboard submarines, future weapon-ready modular launching systems, mine countermeasure systems, submarine systems, naval weapon launching systems and engineering.
• The agreement establishes a framework for cooperation between Naval Group and Nibe Group across shipbuilding, defence platforms and autonomous systems, aimed at strengthening India's self-reliance in naval programmes under the Atmanirbhar Bharat initiative.
• Naval Group has been present in India for more than a decade and has supported the Indian naval defence industry through a network of industrial partnerships.
• Following the announcement, shares of Nibe Ltd ended at ₹1,285.80 on the BSE, up by ₹39.20, or 3.14%.