India-Israel defence deals: Paras Defence and Space Technologies Ltd. has joined hands with Heven Drones, a company from Israel, to build high-tech drones right here in India. They have created a new company together called Paras Heven Drones India. This step is really important because it will help India make its own drones for both military and civil use.
According to Mathrubhumi, the main goal is to make strong and smart drones that can carry loads between 10 to 40 kilograms. These drones will be used for important jobs like delivering supplies in border areas, watching over places for safety, flying at high altitudes, and moving goods where roads can’t reach.
Russia’s Air Defence Shoots Down 105 Ukrainian Drones
The exciting part is that these drones will use Heven Drones’ special hydrogen-powered technology. This means the drones can fly longer and work better without needing to charge or refuel often. Paras Defence will own 51% of this joint company, which follows the rules of India’s foreign investment policy in the defense sector.
Heven Drones will bring in their knowledge, share their designs, and provide working drone models so the new company can start production quickly. Both companies will have an equal number of people on the board, and they will pick the top leaders of the company together, like the CEO, CFO, and COO.
Supporting ‘Make in India’ and Helping India Grow
This whole partnership fits really well with India’s ‘Make in India’ plan. The government wants more things to be made in the country so we don’t have to buy so much from other countries. By mixing Paras Defence’s factories and Heven Drones’ smart technology, the new company hopes to build drones in India that are cheaper than the ones we buy from outside.
In fact, the cost might be about 20% less. Munjal Sharad Shah, who is the Managing Director of Paras Defence, said, “India is a priority market for drone deployment at scale, and Heven Drones’ combat-tested portfolio provides a strategic edge. This JV enables us to deliver world-class Made in India drone systems for local and global markets.”
Krishna Defence & Allied Industries Reports Strong FY25 H2 Results
Future Plans
After this big news came out, many investors got excited. The value of Paras Defence’s shares went up a lot, showing that people believe this move will help the company grow. Paras Defence is already doing well financially. In FY25, their profits almost doubled. Their income went up by 35.8%, and they made more money from their core business, with profit margins growing to 26.2%. The company also has a large number of orders lined up worth more than ₹900 crore.
