Paras Defence announced on Thursday that they will invest ₹12,000 crore to build the first optics park in India, located in Maharashtra. They signed a preliminary agreement with the state government during the World Economic Forum in Davos. The project is set to start in 2028 and will continue until 2035, allowing it to grow and adapt over time.
This investment will create a technology center focused on defense, space, automotive, semiconductors, and more. The company is dedicated to the ‘Make in India’ initiative, which aims to make India more self-sufficient in technology. The project will also create over 2,000 new jobs.
The Maharashtra government has promised to help the company find land and provide incentives to make this project happen. Munjal Sharad Shah, Managing Director of Paras Defence, said this project will strengthen India’s manufacturing capabilities and make India a global leader in innovation. A spokesperson from the Maharashtra government shared excitement for this collaboration, saying it will drive new technologies in various fields.
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