Paras Defence inks pact for Rs 12,000 cr optics park in Maharashtra by 2035

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Paras Defence inks pact for Rs 12,000 cr optics park in Maharashtra by 2035 - Business Standard

Quick Summary:

Paras Defence on Thursday said it is planning to invest Rs 12,000 crore to set up the country's first optics park in Maharashtra and signed an initial pact with the state government at the ongoing World Economic Forum in Davos.

It also reaffirms Paras Defence's commitment to the 'Make in India' initiative while advancing India's aspirations for technological independence in critical sectors, the company said, adding that the project is poised to generate over 2,000 direct employment opportunities.

The investment is set to create a technology hub for defence, space, automotive, semiconductor and other applications, the company said in a statement.