New Delhi: Paras Defence and Space Technologies Limited has announced a significant investment of Rs 12,000 crore to establish India’s first dedicated optics park in Navi Mumbai, Maharashtra.
This ambitious project, formalised through a memorandum of understanding (MoU) with the Maharashtra government, is set to span over the next ten years, with operations expected to commence in 2028 and full completion targeted by 2035.
The optics park aims to serve as a technology hub focusing on various applications, including defence, space, automotive, and semiconductor technologies.
It is anticipated to create approximately 2,000 direct employment opportunities, contributing to local economic growth and reinforcing India’s commitment to technological independence under the ‘Make in India’ initiative.
The Maharashtra government has pledged its support by facilitating necessary approvals and incentives to ensure the project’s success.
Munjal Sharad Shah, Managing Director of Paras Defence, emphasised that this project will not only enhance the domestic manufacturing ecosystem but will also position India as a global innovation leader in optical technologies.
