Paras Defence to Invest ₹12,000 Crore in India’s First Optics Park in Maharashtra.

Paras Defence & Space Technologies, a leader in optics and optronic systems for defence and space applications, has announced a ₹12,000 crore investment to establish India’s first Optics Park in Maharashtra. The company signed a Memorandum of Understanding (MoU) with the Government of Maharashtra at the World Economic Forum in Davos, Switzerland, to kickstart the ambitious project.

The Optics Park is expected to roll out in phases from 2028 to 2035, ensuring scalability and flexibility. The park will serve as a cutting-edge technology hub, transforming India’s optics and optical systems sector, the company stated in a release. Maharashtra’s state government will support the project by facilitating land acquisition, offering various incentives, and expediting approvals.

The project aims to create over 2,000 direct jobs and drive technological advancements across key industries, including defence, space, automotive, industrial, and commercial sectors.

Munjal Sharad Shah, Managing Director of Paras Defence, called the project revolutionary, emphasizing that it would strengthen India’s manufacturing ecosystem and establish the country as a global innovation hub. "Our optics park will bridge technological gaps and foster innovation and growth across various sectors," he said.

Paras Defence plans to tap into its network of mentor institutions, international partnerships, and access to capital markets, both foreign and domestic, to deliver on the project.

HBL