'Navy's long-term plan is to have 3 aircraft carriers'

The Navy is procuring 41 ships and its long-term plan is to have three aircraft carriers, Navy Chief Admiral Karambir Singh said on Tuesday.

Admiral Singh, speaking at an annual press conference, also assured the nation that the Navy is fully prepared to deal with national security challenges.

The Navy's annual budget allocation has come down from 18 per cent to 12 per cent in the last five years, he noted.

On the challenges in the neighbourhood, he said no action of any other player in the region should impact us.

"We are ready to work with like-minded nations in the region," he said.

Seven to eight Chinese ships are usually present in Indian Ocean region, Admiral Singh noted.

The Navy chief also said India is playing a stabilising role in the Indo-Pacific region.