Paras Defence Secures INR 53 Crore Contract for Optical Periscopes to Strengthen Indian Navy Capabilities
Defense News ,India :- Paras Defence and Space Technologies recently clinched a significant contract valued at ?53 crore from the Indian Ministry of Defence. The contract, granted by the Instrument Research & Development Establishment (IRDE) under DRDO, focuses on the design, optimization, fabrication, and qualification of optical periscopes intended for integration into combat systems for submarine applications within the Indian Navy.
Scheduled for completion in the financial year 2024-25 (FY24), this landmark agreement positions Paras Defence as a potential frontrunner in providing state-of-the-art periscope technology for the Indian Navy. The contract aligns seamlessly with the government's strategic emphasis on "Make in India" initiatives in the defense sector.
Key Contract Details:
- Date of Award: January 30, 2024
- Client: Instrument Research & Development Establishment (IRDE), DRDO
- Project Scope: Design, Optimization, Fabrication, and Qualification of Optical Periscopes for Integrated Combat Systems (ICS) for Submarine Application
- Contract Value: ?53 Crore
- Delivery Timeline: Financial Year 2024-25 (FY24)
Significance of the Contract:
1. Enhanced Capabilities: The implementation of these cutting-edge periscopes is anticipated to elevate the stealth, situational awareness, and operational effectiveness of Indian submarines.
2. Boost to Domestic Defense: By entrusting this contract to a local entity, the government reinforces its commitment to fostering self-reliance in critical defense technologies.
3. Expertise Leverage: Paras Defence's extensive experience in this domain is poised to yield high-performance periscopes that meet the stringent requirements of the Indian Navy, potentially opening avenues for future contracts and collaborations.
