India's first Mobile Open Exchange Zone in Noida
By MYBRANDBOOK
Hon’ble Prime Minister Narendra Modi has laid the foundation stone of India's first Mobile Open Exchange Zone (MOX).
Earlier this year, the Uttar Pradesh government had signed an MoU with World Trade Center, Noida to develop Tech Zone as a nucleus of Mobile Open Exchange Zone (MOX), which is acting as a catalyst to enable growth in the mobile and allied sectors in Uttar Pradesh. Vivo has already established their manufacturing facility in the WTC Noida complex, which has, directly/indirectly, employed 15,000 people in the state. This step is taken to establish the aforementioned project of the state government.
MOX@Techzone is a dedicated ecosystem for the mobile industry that will provide an integrated platform to mobile manufacturers, research & development and other allied industries. With WTC Noida at the centre, MOX@Teczone is slated to transform into a focused mobile ecosystem harbouring infrastructure service providers, retailers and distributors, handset manufacturers, and mobile content, application and service providers. This will also further indigenize R&D in hardware and help promote start-ups in the app development and other domains related to mobile.
P.K. Alok, Advisor to World Trade Sector, says, “We are delighted that the World Trade Center, Noida will facilitate Mobile Open Exchange Zone (MOX). The consolidated ecosystem would channelize foreign direct investments and will earn huge tax revenues from consumption-based and destination-based taxes. Its proximity to various universities in the region will also strengthen industry academia relations and provide an opportunity to industries and universities to work together in the field of research & development. Such initiatives and investments have a positive impact on the brand and we will see a ripple effect of it on our WTC GIFT and WTC Chandigarh projects.”
The Indian mobile phone market is the fastest-growing market in the world. According to DIPP-DoT report, by 2020, mobile industry contribution to GDP will be 8.2%. Uttar Pradesh at the forefront of mobile production in India will alone touch 45% of India’s mobile production by 2020. MOX will be the major catalyst for trade and business in the region.
Moreover, the cluster will benefit the region to thrive and prosper and will contribute to the township development by catering to housing requirement of the migrating workforce. It will also lead to development of a digital society and will fuel social infrastructure development in the region.
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