Paras Defence to Manufacture Critical Magnets for India's First Indigenous MRI Machines Under SAMEER-Led Consortium

Paras Defence & Space Technologies Limited, a leading Indian defence engineering company specializing in advanced Optronic Systems for Defence & Space, Defence Electronics, Electro Magnetic Protection Solutions & Heavy Engineering, is proud to announce its pivotal role in developing India's first indigenous Magnetic Resonance Imaging (MRI) machine as part of a consortium spearheaded by the Society for Applied Microwave Electronics Engineering and Research (SAMEER), an autonomous R&D institution under Ministry of Electronics and Information Technology (MEITY). This initiative marks a major step towards self-reliance in high-end medical technology, with Paras Defence playing a key role in reducing import dependency and making advanced diagnostics more accessible and affordable.

Paras Defence will be responsible for developing and manufacturing the high-performance magnets that form the core of MRI machines, leveraging its extensive expertise in precision engineering, electromagnetics and advanced materials. Paras Defence has co-developed the MRI magnet technology in close consultation with the Inter-University Accelerator Centre (IUAC) and international experts, ensuring alignment with global performance standards.

The magnets are one of the most complex and expensive components in MRI machines. India has traditionally been import-dependent, making Paras Defence's contribution a breakthrough in India's quest for technological sovereignty in medical imaging. This collaboration would add Paras Defence to a select global group of companies possessing the capability to manufacture MRI-grade magnets.

The manufacturing of these MRI magnets is planned to be done at Ambernath Facilities of Paras Defence, with production scheduled to begin in the next financial year. Paras Defence will employ advanced electromagnetic, cryogenics and superconducting technologies to ensure that these magnets meet global standards in imaging quality and efficiency.

"At Paras Defence, we are honoured to contribute to this historic initiative that is set to redefine India's capabilities in medical technology. By developing and manufacturing the critical magnets for India's first indigenous MRI machines, we are not only reducing import dependence but also driving technological innovation that makes high-quality diagnostics more accessible. This project represents a bold step towards positioning India as a global leader in advanced medical imaging. We look forward to collaborating with SAMEER and our industry partners to drive this vision forward," said Munjal Shah, Managing Director, Paras Defence & Space Technologies.

The consortium includes leading research institutions and industry partners dedicated to advancing medical technology in India. A key collaboration in this initiative is between the AllIndia Institute of Medical Sciences (AIIMS) New Delhi and the Society for Applied Microwave Electronics Engineering and Research (SAMEER).

Dr P Hanumantha Rao, Director General of SAMEER, acknowledged the initiatives of MeitY in building Indigenous medical solutions as part of Hon Prime minister's vision of making India self reliant with home grown technologies. Dr Rao further emphasised that, the consortium lead by R&D organisation (SAMEER) and Industry is unique in democratising the R&D output into manufacturing. These initiatives significantly bring down the cost of the medical equipment and hence the cost of the diagnostics and treatment.

As part of the development roadmap, the first indigenous 1.5 Tesla MRI scanner is slated for installation at AIIMS New Delhi by October for clinical evaluation and trials.

The global MRI market, valued at USD 6.64 billion in 2023, is projected to grow at CAGR of 6.5%. While the Indian MRI Market size is estimated at USD 326.85 million in 2025, and is expected to reach USD 439.67 million by 2030, at a CAGR of 6.11%. India's heavy reliance on imported MRI machines and components has contributed to higher procurement costs and limited domestic expertise in core MRI technologies. The development of indigenous MRI machines is expected to bring down procurement costs by 30%, reducing the financial burden not just on hospitals and diagnostic centers, but also on the patients. The initiative is also expected to generate new jobs in India's medical devices sector, from R&D to high-tech manufacturing and assembly, positioning the country as a key player in medical technology.

By building domestic capabilities in MRI manufacturing, this initiative will stimulate growth in India's medical devices industry, drive investment in advanced healthcare infrastructure, and help establish India as a global hub for cutting-edge medical technology. This is the first medical technology manufacturing line set up by Paras Defence-and it begins with one of the most advanced and critical components in diagnostic imaging. Paras Defence not only aims to become a domestic supplier for these magnets but is also considering global markets to export to.

Shares of Paras Defence and Space Technologies Ltd was last trading in BSE at Rs. 1051.55 as compared to the previous close of Rs. 1035.00. The total number of shares traded during the day was 12843 in over 764 trades.

The stock hit an intraday high of Rs. 1058.00 and intraday low of 1031.00. The net turnover during the day was Rs. 13492926.00.

Source : Equity Bulls

Keywords

ParasDefenceandSpaceTechnologies Defence INE045601015 MRIMachine Indigenous SAMEER MEITY