New Space India Ltd. signs LOI for transfer of technology to Paras Defence.

New Space India Limited, Central Public Sector Enterprise under the administrative control of Department of Space (DOS), Government-of India has executed 'Letter of Intent' (LOI) dated June 27, 2022 with Paras Defence and Space Technologies Limited for handing over the technology of "Optical Imaging System" as developed by Indian Space Research Organization (ISRO).

This technology will be transferred by way of Technology Transfer Agreement (hereinafter referred as 'the agreement') for development, manufacturing, and sale of Optical Imaging System in India and abroad. The draft of the agreement has been handed over by NSIL to Paras. The Company shall inform about the execution of the agreement to it's stakeholders, upon finalization of the commercials for the ToT.

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