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Isn't it too good to be true? I mean I am not a pessimist, but India's first indigenous aircraft carrier being built in less than two years sounds too good to be true or feasible or possible (tack your pick). Hell, even the American shipyards don't churn em out that fast.

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Nope, way too heavy for the Fulcrum. As Singhji said, MKIs can carry it. (I think it is also intended for launch from some Tupolev maritime aircraft, cannot remember the exact one)