Paras Defence to Invest ₹12,000 Crore in Maharashtra for Optics Park Development
Paras Defence & Space Technologies Limited has announced plans to invest ₹12,000 crore to establish an Optics Park in Maharashtra. The project is supported by a Memorandum of Understanding (MoU) signed between the company and the Government of Maharashtra during the World Economic Forum in Davos.
The Optics Park aims to advance the production of optical and optronic systems for sectors such as defence, space, automotive, and industrial applications. According to the company, the project is expected to create over 2,000 direct employment opportunities. The park will feature infrastructure for raw material development, optical assembly, and system testing, along with an academy for optics and allied technologies.
The investment also focuses on the development of advanced technologies, including silicon and germanium-based components, MEMS-based sensors, adaptive optics, and laser systems. The facility plans to manufacture materials such as zinc selenide and glass ceramic for optical and semiconductor applications.
Scheduled to begin operations in 2028, the project will be implemented in phases until 2035 to accommodate scalability. The Maharashtra government has committed support through land allocation, incentives, and necessary approvals.
Speaking on the announcement, Munjal Sharad Shah, Managing Director of Paras Defence & Space Technologies Ltd, stated, “The Optics Park reflects our unwavering commitment to advancing India’s technological capabilities. This revolutionary project will not only boost the domestic manufacturing ecosystem but also solidify India’s position as a global innovation hub. Our Optics Park will bridge technological gaps and create opportunities for knowledge exchange, innovation, and growth across sectors. This initiative represents a monumental milestone for both Paras Defence and India’s technological aspirations.”
The project represents a significant step in the development of optical technologies within India and aims to reduce reliance on foreign technology in this domain.