CONTROP strengthens presence in the Indian market

By Arie Egozi

Israeli company CONTROP and Indian company Paras Defence and Space Technologies have signed an agreement to establish a new company in India. The signing ceremony took place in Mumbai, India, in the presence of Mr. Hagay Azani, CEO of CONTROP, and Mr. Munjal Shah, MD of PARAS. This marks an important first step towards the establishment of a joint venture (JV) aimed at procuring innovative EO/IR (Electro-Optical/Infrared) solutions for defence applications, in line with India's "Atmanirbhar Bharat" (Self-Reliance) initiative to enhance local capabilities.

CONTROP specializes in the development and production of high-end stabilized EO/IR systems for intelligence, surveillance, reconnaissance, targeting missions, and counter-UAS (Unmanned Aircraft Systems) applications. Their cutting-edge technology incorporates smart algorithms and AI to enable automation and autonomy for troops on missions.

The JV aligns with CONTROP’s business strategy to expand its presence in global markets through localization. The company is actively participating in high-volume tenders in the Indian defence market, particularly in the EO/IR field. These tenders are part of India’s “Make In India” policy, and the new JV will facilitate the implementation of projects through local manufacturing using advanced transfer of technology processes.

The establishment of the JV will enable local manufacturing of electro-optic systems, leveraging PARAS’s extensive customer access and strong presence in India’s defence market. It is expected that CONTROP’s subsidiaries will also expand their business as part of this joint venture.

Hagay Azani, CEO of CONTROP, expressed the significance of the partnership, stating, “The power of a momentous change lies in two parties deciding to join forces. The establishment is a major step taken by both parties toward providing next-generation EO/IR solutions for India’s growing defence market.”

Amit Mahajan, Director-Business Development at PARAS, emphasized the importance of the collaboration, stating, “This is a remarkable event in our company’s business. We are partnering with one of the world’s best and leading EO/IR providers. Under the joint venture in India, the company will be engaged in manufacturing electro-optic systems for various applications.”

PARAS Defence and Space Technologies Ltd. specializes in the design, development, manufacturing, testing, and commissioning of products, systems, and solutions for defence and space applications. The company strongly adheres to the principle of “Make in India” and offers a wide range of products and solutions manufactured under one roof. With state-of-the-art manufacturing facilities, a highly skilled workforce, and a robust supply chain group, PARAS is well-equipped to support the joint venture.



Related news & articles

Latest news