Israeli electro-optical/infrared (EO/IR) sensor specialist CONTROP has entered into a joint venture (JV) with Indian company Paras Defence and Space Technologies, CONTROP announced on 14 June 2023.
The JV, which is part of CONTROP’s ongoing business strategy to expand its presence in various global markets through localisation, will focus on the procurement of innovative, state-of-the-art EO/IR solutions for defence applications in accordance with the Indian government’s ‘Atmanirbhar Bharat’ (Self-Reliance) initiative, which is intended to boost the country’s indigenous defence capabilities.
CONTROP is currently participating in various high-volume tenders in the Indian defence market, mainly in the EO/IR field. The tenders are part of the new ‘Make in India’ policy of the Indian government and the new JV will be the vehicle to implement such projects through local manufacturing following an advanced technology transfer process.
As well as enabling local manufacturing of CONTROP systems, the JV will also benefit from Paras’ large customer access and strong presence in India’s defence market. As part of this activity CONTROP’s subsidiaries are also expected to expand their business, the company stated.
Hagay Azani, CEO of CONTROP, was quoted as stating in a company press release, “The power of a momentous change lies in two parties deciding to join forces. The establishment [of the JV] is a major step taken by both parties toward providing next-generation EO/IR solutions for India’s growing defence market.”
Amit Mahajan, Director of Business Development at Paras, was quoted as saying, “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.”
Peter Felstead
