Paras Defence and Space Technologies Limited — Updates, 23-01-2025: Press Release

Paras Defence & Space Technologies Limited is set to invest ₹12,000 crore to establish India’s first Optics Park in Maharashtra, having signed a Memorandum of Understanding with the Government of Maharashtra at the World Economic Forum in Davos. This landmark investment will create a high-tech hub for optics and optronic systems, supporting the government's 'Make in India' initiative and fostering technological independence. The project is expected to generate over 2,000 direct jobs and significantly enhance capabilities in critical sectors like defence, automotive, and space.

With comprehensive infrastructure planned, including facilities for material development and advanced system testing, the project aims to progress in phases from 2028 to 2035. This initiative positions India as a future leader in optical technologies, addressing the domestic market’s needs and bridging technological gaps. Overall, this move is a substantial step toward elevating India’s status as a global innovation center in advanced technologies.