The Akula-II class submarine K-152 Nerpa, renamed INS Chakra-II, is on a 10-year lease from Russia at a cost of nearly 1 billion dollar.
Defence minister AK Antony formally inducted the 8000-ton vessel as India is looking forward to strengthen its position in the Indian Ocean region. Apart from India the other nations which possess the capability to operate nuclear vessel includes US, Russia, France, the UK and China.
The induction of INS Chakra in the Indian Navy is strategically very important given the fact that China over the last few years has been aggressively indulged in taking the Indian Ocean Region within its clout. Besides, its growing belligerence in the entire Asia-Pacific region has also been a reason of grave concern for Indian security establishment. The INS Chakra will offer India a defining strategic edge over its conventional rivals China and Pakistan.
(Note: APPSC Group-II Exam (21-07-2012) G.S. Question)