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'Vagir' means sand shark, which represents stealth and fearlessness, two qualities synonymous with the ethos of a submariner.
The submarines will be built under the much-talked-about strategic partnership model that allows domestic defence manufacturers to join hands with leading foreign defence majors to produce high-end military platforms to reduce import dependence.
The diesel-electric powered submarine could withstand a depth of up to 500 metres (1,640 ft) but anything more could be fatal.
SMART is a missile assisted release of lightweight anti-submarine system for anti-submarine warfare (ASW) operations far beyond the torpedo range.
The missile developed by DRDO would be equipped on indigenous Indian Navy Ship Arihant, which is a nuclear-powered submarine.
India's second Scorpene-class attack submarine INS Khanderi which was commissioned by Defence Minister Rajnath Singh on Saturday is expected to increase the country's maritime combat lethality by several folds.
The joint Norwegian-Russian expedition set off Saturday from Tromsoe, northern Norway, to the Arctic Barents Sea where the Komsomolets submarine sank at about 1,700 metres in 1989.
MH-60 'Romeo' Seahawk helicopters are designed for hunting submarines as well as knocking out ships and conducting search-and-rescue operations at sea.
Under the pact, Russia will have to deliver the Akula class submarine, to be known as Chakra III, to the Indian Navy by 2025.
The Pakistan Navy also shared a footage with the media, which it said was "actual". The image showed that the footage was made at 2035 hours on March 4.