Parekh's association with BAE Systems began in 2010, when he was appointed as a member of the company's Independent Advisory Board for India, the company said in a release.
In his new part-time role, effective from January 1, Parekh will provide leadership to the BAE Systems India Board and help the company realise its aspiration to develop capabilities and infrastructure in the country.
"As India accelerates its pace towards the goal of self-reliance in aerospace and defence, it is an exciting time to help guide the company in support of that objective," Parekh said.