Paras Defence Signs MoU with Hevendrones Ltd., Israel for Joint Venture in Defence Sector

Paras Defence and Space Technologies Limited has entered into a Memorandum of Understanding (MoU) with Hevendrones Ltd., Israel. The MoU aims to create new opportunities and expand both parties' business in the Indian and Global Defence sector. The companies plan to form a Joint Venture Company in India for the development and production of logistics and cargo drones for defence and civil markets, aligning with the Government of India's Make in India initiative. The details of the joint venture agreement will be disclosed as per SEBI regulations at the time of investment.