Paras Defence & Space Technologies Ltd has inaugurated a cutting-edge optical systems testing facility in Navi Mumbai. The facility, opened on November 22, 2024, is a milestone in the company’s vision to establish India’s first Optical Systems Development Park. The event was graced by Dr. S. Somanath, Chairman of ISRO, and Paras Defence’s Managing Director, Munjal Shah.
This facility will support advanced research in hyperspectral and optical systems for applications across space, defence, navigation, and telecommunications. The global space technology market, projected to exceed $1 trillion by 2035, aligns with India’s ambitious Space Policy to capture 10% of this market by 2030.
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Munjal Shah emphasized the company’s role in enhancing India’s self-reliance in space and defence technologies. With ₹500 crore investment planned, Paras Defence aims to drive innovation and position India at the forefront of the global optical systems market.
Dr. Somanath hailed the facility as a vital contributor to ISRO’s missions and a significant step toward boosting India’s leadership in space exploration and high-tech manufacturing.
