The Makara is a hand-bomb in Final Fantasy XII. It is the upgraded Volcano introduced in the Zodiac versions, where it is the most powerful hand-bomb weapon. Its license costs 105 LP and it can be used by the Foebreaker, Machinist and Black Mage. Machinist needs to unlock Zeromus and Black Mage needs to unlock Hashmal to reach its license.
Makara is a sea-creature in Hinduism. In Hindu astrology, Makara is equivalent to the sign of Capricorn, tenth of the twelve symbols of the Zodiac.
It is called Volcano T in the Japanese version, with all the letters at the ends of the newly added upgraded weapons spelling out "FINAL FANTASY"