Paras Defence & Space Technologies Ltd, a leading Indian defence engineering company, has inaugurated a state-of-the-art optical systems testing facility in Navi Mumbai. This facility marks a significant step towards establishing India's first Optical Systems Development Park and strengthens the nation's capabilities in space and defence technologies.
The inauguration ceremony was officiated by ISRO Chairman S Somnath, alongside Paras Defence Managing Director Munjal Shah.
This advanced testing center will focus on hyperspectral and other optical systems crucial for space and defence applications. These technologies have far-reaching implications for sectors like earth observation, navigation, homeland security, telecommunications, and automotive innovation.
Hyperspectral technology, in particular, is expected to play a key role in the burgeoning space technology market, projected to reach $1 trillion by the end of the decade. India aims to secure 10% of the global space economy by 2030 under its new Space Policy, and this facility will contribute significantly towards that goal.
Munjal Shah, Managing Director of Paras Defence, highlighted the company's commitment to self-reliance in space technology, stating, "Advancing indigenous capabilities in optical systems development is crucial to India's quest for space leadership. This facility is a milestone in our commitment to enhancing India's self-reliance in space technology and defence engineering." He further outlined plans to invest ₹500 crore over the next few years to create India's first advanced Optical Systems Development Park.
ISRO Chairman S Somnath praised Paras Defence's contributions to India's space program, saying, "This facility reinforces the critical role of Paras Defence in advancing India's space exploration and technology leadership. The new facility not only strengthens space missions but also extends the applications of optical systems to various industries."
This initiative aligns with the government's "Vision 2047" program, which envisions India as a global leader in space exploration and technology. By establishing this cutting-edge testing facility, Paras Defence is playing a pivotal role in realizing this vision and solidifying India's position in the global space and defence arena.
