Indian Navy Urged to Adopt Life-Cycle Costing for Warship Acquisition

Imagine the Indian Navy buying new ships!

Right now, they mostly look at how much the ship costs to buy.

But, a new idea suggests looking at the total cost over the ship's entire life, including how much it costs to keep it running.

This is called life-cycle cost.

By doing this, Indian companies that make ship parts could compete better with foreign companies.

Since these companies will know they'll get money for maintaining the ships for many years, they can lower the initial buying cost, which could allow the Navy to buy more ships.

It's like buying a toy and figuring out how much it costs to fix it when it breaks, instead of only the price when buying it.