(MENAFN - IANS) p>Chennai, Feb 14 (IANS) Prime Minister Narendra Modi on Sunday handed over the indigenously developed Arjun Main Battle Tank Mark 1A to the Indian Army here and said India believes in peace but will protect its sovereignty at all costs. Modi handed over the tank to Army Chief General M.M. Naravane. He accepted a salute by the state-of-the-art tank, indigenously designed, developed and manufactured by the Defence Research and Development Organisation's Combat Vehicles Research and Development Establishment here. Fifteen academic institutions, eight labs and several MSMEs were also involved in the project. The Defence Ministry had recently cleared the induction of 118 Arjun Mark 1A tanks into the Indian Army, costing around Rs 8,400 crore.