SOURCE: AFI
Paras Defence and Space Technologies Limited has announced a significant expansion in its defense manufacturing capabilities, having obtained a pivotal license from the Department for Promotion of Industry and Internal Trade (DPIIT). The license, granted under the Arms Act, 1959, authorizes the company to produce the MK-46 and MK-48 belt-fed Light Machine Guns (LMGs). This development marks a notable milestone for Paras Defence, enhancing its strategic position within India’s defense sector.
The MK-46 and MK-48 LMGs are recognized for their advanced and modernized design, offering enhanced firepower and reliability. With this license, Paras Defence is now permitted to manufacture 6,000 units of each model annually, providing a significant boost to the company’s production capacity and its role in national defense.
This license not only extends Paras Defence’s product portfolio but also has lifetime validity, ensuring long-term stability and growth in its operations. This step forward underlines the company’s commitment to contributing to India’s self-reliance in defense manufacturing, aligning with the broader governmental push towards ‘Make in India’ initiatives.
The acquisition of this license is expected to have a positive impact on the company’s stock, as it reflects confidence from regulatory bodies in Paras Defence’s capabilities and compliance standards. This development could also potentially lead to increased orders from both domestic and international markets, given the global demand for sophisticated defense equipment.
Paras Defence and Space Technologies, known for its expertise in designing, developing, manufacturing, and testing cutting-edge products for defense and space applications, now strengthens its foothold in a highly competitive sector. The company’s focus on innovation and quality has positioned it as a key player in India’s defense industry, with this new license further solidifying that status.