Technology and Knowledge Transfer Will Enhance India’s Self-Reliance

Controp Precision Technologies and Paras Defence and Space Technologies have agreed to establish a joint venture company to manufacture innovative, advanced multi-domain EO/IR defence solutions in India, in line with the government’s Atmanirbhar Bharat (Self-reliance) initiative. The proposed venture will be the recipient of considerable technology and knowledge transfer, according to a Controp release on 14 June.

The JV falls in line with the Israeli company’s avowed strategy of expanding its presence in key global markets through local involvement. Controp is currently bidding in several high-volume tenders in the Indian defence market, primarily with EO/IR solutions, and intends to leverage the JV’s potential to enhance potential success through compliance with the ‘Make in India’ policy pursued by the Indian government. “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,” explained Hagay Azani, Controp CEO.

Amit Mahajan, Director of Business Development for Paras, added “This is a very 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”.