Do you know how much a nuclear submarine cost, this was not a hateful comment but a reality check. Dont compare the capabilities of the IN with the PN, they are ages apart. Just to give you an idea about the cost of a nuclear submarine, please read -
The National Defense Authorization Act for FY 1996 preserved the third Seawolf nuclear attack submarine, though it funded SSN-23 at a lower level ($674.5 million) than the White House originally requested ($1.3736 billion). The estimated total cost for the three Seawolf class submarines is $13.1243 billion, or roughly $4.4 billion per submarine. (Source: Department of Defense Selected Acquisition Reports, Program Acquisition Cost Summary, March 31, 1996.)
The Virginia-class subs cost lower than the Seawolf, which were priced at around $1.85 billion each, the GAO found the Navy is not likely to meet that goal due to unrealistic program cost estimates. So far, the initial estimated average unit cost for the first three Virginia-class submarines is $2.1 billion.
INS Arihant cost $US2.9 billion (Rs. 13,966 Crore) and thats not including ongoing maintenance cost.
PN does not currently have the capability to logistically or financially support a nuclear submarine. If money was the only question then most countries would be maintaining one. It took the Indian navy a good 10-15 years to get the Arihant into the sea and by that standards keeping in mind IN huge logistical advantage it will take the PN atleast 10 years more to get even close to one.
As far as leasing one goes, the chances are very remote and way to many variable involved. China will not be very keen to just lease one away like that keeping in mind Pakistan's proximity to the Americans. Again even materializing a lease would take 5-10 years. Such deals dont happen overnight.
And these are 1996 estimates that included all the other cost that come with acquiring a nuclear submarine. You just dont buy one and put in into the see and forget about it. This is a god damn Nuclear Submarine not a fishing boat.