Paras Defence and Space Technologies to Invest ₹120 Billion in Maharashtra's First Optical Systems Development Park

Paras Defence and Space Technologies Ltd. has signed a Memorandum of Understanding (MoU) with the Maharashtra government to establish India's inaugural Optical Systems Development Park. The company plans to invest ₹120 billion in this state-of-the-art facility, which will focus on the design, manufacturing, and testing of advanced optical systems for applications ranging from automotive cameras to high-end space equipment. This initiative aligns with the government's "Vision 2047" program, aiming to position India at the forefront of the global space economy and human space exploration. The park is expected to bolster indigenous capabilities in optical technologies, contributing significantly to the nation's self-reliance in defense and space sectors.

Source: Paras Defence & Space Technologies Ltd.