Chennai: The NewSpace India Ltd (NSIL), the commercial arm of India's Department of Space, has agreed to transfer 'Optical Imaging System' technology to Paras Defence and Space Technologies Ltd.

The Optical Imaging System was developed by Indian Space Research Organisation (ISRO).

The NSIL has executed a Letter of Intent with Paras Defence.

According to Paras Defence, the technology will be transferred through a Technology Transfer Agreement for development, manufacturing, and sale of Optical Imaging System in India and abroad.

The draft of the agreement has been handed over by NSIL to Paras Defence.

(IANS)