Paras Defence & Space Technologies is set to invest Rs. 12000 crore to establish India's first Optics Park in Maharashtra. In this regard, the defence company signed a Memorandum of Understanding (MoU) with the Government of Maharashtra (GoM).

The announcement, made at the prestigious World Economic Forum in Davos, Switzerland, marks a historic milestone in India's journey toward self-reliance in advanced optical technologies.

The monumental investment is set to create a state-of-the-art technology hub that will reshape India's optics and optical systems sector and establish itself as a World Leader in Optical Technologies.

It also reaffirms Paras Defence's commitment to the 'Make in India' initiative while advancing India's aspirations for technological independence in critical sectors.

The project is poised to generate over 2,000 direct employment opportunities and catalyze technological advancements across key industries such as defence, space, automotive, industrial, and commercial applications.

Under the planned MoU, the Government of Maharashtra has pledged its comprehensive support to Paras Defence in securing land, various incentives and approvals to bring this ambitious project to fruition.