Paras Defence to Launch India's First Optics Park in Maharashtra

Paras Defence plans to invest Rs 12,000 crore in India's first optics park in Maharashtra, with an initial agreement signed at the World Economic Forum. The project aims to create a technology hub and generate 2,000 jobs, aligning with the 'Make in India' initiative for technological independence.

Paras Defence has announced an ambitious Rs 12,000 crore investment to establish India's inaugural optics park in Maharashtra. The project, unveiled at the World Economic Forum in Davos, aims to enhance technology capabilities in various sectors.

The company stated that this venture underscores its support for the 'Make in India' initiative, promising significant strides towards technological self-reliance. The optics park, expected to be operational from 2028 to 2035, is projected to generate over 2,000 job opportunities.

In collaboration with the Maharashtra government, which has pledged logistical support, the project seeks to reinforce India's status as a global innovation leader across several industries, including defense and space.

(With inputs from agencies.)