Paras Defence & Space Technologies has announced plans to invest ₹12,000 crore 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. The project aims to advance India’s capabilities in optical technologies and reduce dependence on foreign systems, said a statement.
The Optics Park will serve as a technology hub for developing advanced optical systems used across industries, including defence, space, automotive, industrial, and commercial applications. The initiative is expected to generate over 2,000 direct jobs and boost India’s domestic manufacturing under the ‘Make in India’ initiative.
According to the MoU, the state government will support the project by facilitating land acquisition, approvals, and providing incentives to ensure its implementation. The project will roll out in phases, starting in 2028 and continuing until 2035, to allow for scalability and flexibility.
“The Optics Park reflects our commitment to advancing India’s technological capabilities,” said Munjal Sharad Shah, Managing Director of Paras Defence & Space Technologies. “This project will strengthen domestic manufacturing, foster innovation, and position India as a global hub for optical technologies.”
The Optics Park will include infrastructure for raw material development, optical assembly, advanced testing systems, and an academy for optics and allied technologies. It will focus on developing technologies such as silicon and germanium materials, MEMS-based sensors, adaptive optics, and high-speed imaging systems. These innovations will be applied to areas such as quantum communication, anti-drone systems, and semiconductor manufacturing.
A spokesperson for the Maharashtra government stated, “We are proud to collaborate with Paras Defence on this project, which will drive innovation and establish Maharashtra as a hub for advanced technologies in defence, space, and other sectors.”
