For Munjal Shah, Chairman and Managing Director of Paras Defence and Space Technologies, the story of his company has always been one of deliberately walking the harder path. From its earliest days, Paras chose to operate in highly specialised, high-stakes domains — primarily defence and space — where the customer base is narrow, requirements are unforgiving, and there is no margin for error.
"We have always believed in building cutting-edge technologies that India has limited access to," Shah says. "In such a focused industry, sustainability doesn't come from scale but from depth. You need a broad range of offerings and the capability to develop highly customised solutions."
That mindset has taken Paras from being a Tier-3 vendor to becoming a Tier-1 partner in multiple areas. The journey has been fuelled by consistent investment in R&D, design-led innovation, and engineering precision, expanding the company's capabilities from mechanical systems to electronics, electro-optics, and integrated defence platforms. Today, Paras is also working in futuristic areas like quantum communication — technologies that Shah believes will shape the company's future.
The case for self-reliance
Global flashpoints from the Red Sea to Eastern Europe have reinforced one of Shah's core convictions: relying on technology supply chains from unstable regions is a risk India cannot afford. He points to India's evolving policy framework — from the Defence Acquisition Procedure (DAP) to indigenisation lists and long-term Development-cum-Production Partnership (DCPP) tenders — as a strong base to build on.
But for him, the challenge goes deeper. "We must strengthen the entire ecosystem — from raw materials and components to system integration and testing," he says. Academic partnerships, such as those between IITs, IISc, and DRDO, are key to building technologies from the ground up. This is particularly important in space, which Shah calls the "fourth pillar of modern defence." With Make in India creating momentum, he sees a global gap that Indian companies can fill in niche, mission-critical systems like optical payloads, which are in high demand but short supply worldwide.
Missions beyond combat
Shah's perspective on defence readiness is broader than traditional combat scenarios. Operation Sindoor — where Indian forces played a humanitarian and stabilisation role — reinforced his belief that modern defence equipment must be as versatile as the forces that use it.
"At Paras, we focus on Indigenously Designed, Developed, and Manufactured (IDDM) capabilities that give customers agility, scalability, and lower foreign dependence," he says. This includes ruggedised surveillance systems, counter-drone platforms, tactical electronic warfare (EW) solutions, and frontline logistics technologies.
One example is a joint venture with Israel's HevenDrones to develop hydrogen-powered heavy-lift drones capable of transporting critical supplies across challenging terrains. Another is the deployment of counter-unmanned aerial systems (UAS) to detect and neutralise hostile drones during sensitive missions.
Breaking new frontiers
India's defence manufacturing is steadily moving from being an importer to a systems integrator and exporter. Shah believes the next leap will come when Indian manufacturers ask a different question: not "Why can't we do what others have done?" but "Why not attempt what no one else has done yet?"
At Paras, that philosophy has driven indigenous efforts in areas such as submarine periscopes, advanced drone detection and jamming systems, and specialised optical systems — technologies previously untouched in India. Scaling these ambitions, Shah says, will require stronger test infrastructure, skilled talent, and robust quality frameworks.
Engineering with precision and responsibility
Working in sensitive areas such as EMP protection, drone technologies, and precision optics comes with a unique responsibility. "In mission-critical technologies, there's no room for error and no second chances," Shah notes. Every test bench at Paras is treated like a live mission rehearsal, with teams trained to flag inconsistencies early, design with redundancy, and maintain strict process discipline.
The company is AS9100D-certified — the highest quality benchmark in aerospace — enabling it to contribute to programmes like the NAL Saras aircraft. "Our systems must reflect the seriousness of the trust placed in us," Shah says. "We honour that trust not just through innovation, but through process, precision, and purpose."
Knowing when to build and when to partner
Paras has worked with global partners like Controp and HevenDrones, but Shah's approach to collaboration is selective. The guiding principle: if a technology is core to India's long-term strategic capability, it is developed in-house, regardless of the time it takes. For platforms where speed is essential, partnerships enable rapid deployment without sacrificing domestic capability.
Even in collaborations, Shah insists on creating local capacity for maintenance, servicing, and upgrades. This ensures that every system deployed in India remains supportable within the country.
Defence-grade engineering for public health
One of Paras Defence's most unexpected projects was the development of magnets for India's first indigenous MRI machine. It came through a long-standing partner under the Ministry of Electronics & IT and aligned with the company's core philosophy: focus on high-impact technologies that are scarce and of high national value.
The MRI magnet technology had never been developed in India before. For the nation, it meant import substitution and potential export opportunities. For Paras, it was a chance to apply defence-grade engineering to public healthcare without significant reinvestment, using existing infrastructure and expertise. "Whether it's national security or public health, the fundamentals remain the same — engineering with rigour, resilience, and responsibility," Shah says.
Leading with discipline
Shah credits Paras's longevity and trust in the defence sector to three principles: create–ideate–innovate; deliver the right quality at the right time; and direct the best resources to the right challenges. Much of the company's work is design-led and R&D-intensive, and feedback from the field plays a central role in shaping solutions.
"Defence isn't driven by generic solutions — it's a custom-built industry," he says. This philosophy has made Paras proactive in building deep technical capabilities, from advanced optics to ruggedised systems, while staying adaptable to user needs.
Looking to 2029 and beyond
India has set an ambitious target of ₹50,000 crore in defence exports by 2029. Shah sees this not just as a commercial opportunity but as a chance to redefine how the world views Indian engineering. "Many of our systems are India's firsts, and in some cases, globally rare," he says. "If we can export these at scale, we won't just enter new markets — we'll reshape them."
For Shah, the legacy he hopes to leave is simple: that Paras Defence consistently chose the harder, more vital work. From missile electronics to hydrogen-powered drones, from humanitarian missions to healthcare breakthroughs, the company's story is one of persistence in the face of market and policy headwinds.
"We've never chased volume for its own sake," he says. "Our focus has always been on strengthening the backbone of India's strategic capabilities — quietly, reliably, and with intent. If, a decade from now, people say Paras made a difference by staying true to its mission, we would consider that our proudest legacy."