"Kalvari is an excellent example of our "Make in India" program", he said.
The submarines, designed by French naval defense and energy company DCNS, are being built by Mazagon Dock Limited (MDL) in Mumbai as part of Project-75 of the Indian Navy.
He said the INS Kalvari will provide a significant boost and synergise the country's defence, economic, technical and worldwide powers, along with people power on the global arena.
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The oil-cartel said, however, that the 2018 forecast for non-OPEC supply is "associated with considerable uncertainties". OPEC forecasts non-OPEC supply growth to rise by 120,000 barrels per day (bpd) to 990,000 bpd.
"India's humanitarian approach to diplomacy and national security is something that makes us special in the world". He said the INS Kalvari will add even more strength to the Indian Navy.
Modi thanked France for its collaboration in building the submarine and said, "This is a fine example of the fast growing strategic partnership between India and France".
That is why, he added, India is well aware of the challenges such as sea-borne terrorism, piracy, and drug trafficking, that not just India, but other nations in the region also have to face.
INS Kalvari is manned by a team comprising eight officers and 35 sailors with Captain SD Mehendale at the helm as her first Commanding Officer. Last October, India commissioned its first nuclear submarine INS Arihant.
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The deal announcement comes amid considerable interest for Fox from not just Disney, but also the likes of Comcast and Verizon . Fox shares ended trading on Wednesday at US$32.75, giving it a market capitalization of around US$60 billion.
"On July 12, 1999, the Cabinet Committee on Security accorded approval for a 30-year plan for the construction of a series of submarines for the Indian Navy in two phases, with the second phase to be indigenous", said Commodore Anil Jai Singh (Retd), Vice-President of the Indian Maritime Foundation.
The state-of-the-art features of the Scorpenes include superior stealth and ability to launch crippling attacks with precision-guided weapons.
The attacks can be carried out with torpedoes both while submerged or on the surface - in all war theatres including the tropics, giving it an unmatched invulnerability.
The hull form, the fin and the hydroplanes are specifically created to produce minimum underwater resistance.
FIRST ALERT FORECAST: Not as cold tonight; cloudy skies through the weekend
It's a cool start outside with temperatures down in the mid 40's and winds starting to pick up after a cold front passed through. A cold front overnight will bring our highs over the next few days back down to the upper 50s.