Paras Defence to Establish Rs 120 Billion Optics Park in Maharashtra

Paras Defence has announced plans to invest Rs 120 billion in developing India’s first optics park in Maharashtra. An initial agreement for the project was signed with the state government at the World Economic Forum in Davos. Slated to commence operations in 2028 and continue until 2035, the optics park aims to serve as a technology hub for applications in defence, space, automotive, semiconductors, and other critical sectors. The initiative underscores Paras Defence’s commitment to the 'Make in India' campaign while bolstering India's push for technological self-reliance. The project is expected to create over 2,000 direct employment opportunities. The Maharashtra government has pledged its support for the endeavor, including assistance with land acquisition, approvals, and various incentives to ensure its successful implementation. (Business Standard)