MOX Zone foundation stone laid at WTC Noida by PM Modi

New Delhi [India], July 31 (ANI-NewsVoir): Prime Minister Narendra Modi laid the foundation stone of India's first Mobile Open Exchange Zone (MOX). The Ground Breaking Ceremony for MOX at World Trade Centre, Noida was held in Lucknow where the PM inaugurated such plans, MOUs of which were signed during the UP Investors Summit in 2018.

Earlier this year, Uttar Pradesh government had signed a 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 was 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 harboring infrastructure service providers, retailers and distributors, handset manufacturers, and mobile content, application and service providers. This will also further indigenous R&D in hardware and help promote start-ups in the app development and other domains related to mobile.

"We are delighted that the World Trade Center, Noida will facilitate Mobile Open Exchange Zone (MOX). This unique zone will be monumental in attracting investment and the area will reap huge benefits from it. 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," said P K Alok, Advisor to World Trade Sector.

"World Trade Center in India is leveraging its global network to talk to companies who are looking towards India for Investment. The support from Hon'ble Prime Minister, Narendra Modi and Hon'ble Chief Minister, Yogi Adityanath will help propel the economic growth of the country and make it one of the top investment destinations in the world. MoX will harness the potential of Greater Noida and will make it preferred destination for electronics and mobile industry," he added.

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 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. (ANI-NewsVoir)

This story has not been edited. It has been published as provided by ANI