New Delhi [India], Feb 26 (ANI-NewsVoir): At the UP Investor's Summit 2018, the Government of Uttar Pradesh (GoUP) has signed a Memorandum of Understanding (MoU) with World Trade Center (WTC) Noida to build a Mobile Open Exchange Zone (MOX) around Tech Zone, Greater Noida (TZGN).
As per the MoU, TZGN shall act as a nucleus for MOX to bring the advantage of growth in the mobile and allied sector to the state.
Mobile Open Exchange Zone (MOX) is a focused mobile ecosystem that is built on three pillars, i.e. infrastructure, hardware and software, addressing the challenges faced by technology companies through access to skilled human resources and enabling synergies.
For the establishment of aforesaid project, GoUP would facilitate to obtain necessary permission, registrations, approvals, clearances, etc. as per the existing facilities, rules and regulations of the state government and would also help to avail incentives under various schemes announced by State/Central Government, wherever applicable.
As per MOTT MacDonald report by 2020, India will be the 2nd largest smart phone market, with 130 billion India's total mobile sector value which will be 8.2 percent of GDP's contribution to Indian economy.
So, MOX@Techzone is slated to transform into a focused mobile ecosystem harboring infrastructure service providers, retailers, distributors, handset manufacturers, mobile content, application development 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 elated that the UP Govt. supported WTC Noida to facilitate MOX which will propel the economic growth of the region. Also, as per MOTT MacDonald Pvt. Ltd. report, the region is likely to attract Rs. 10,000 crore or more and will generate employment at large. We are confident that this MoU will ensure ground level success for programs like Make in India, Digital India and Skill India and will take them to next level," said P K Alok, Advisor to WTC Noida.
World Trade Centre Association already represent a global network of active and planned locations in 318 cities in 88 countries that work to create competitive advantage for businesses conducting international trade and the establishment of MoX at TZGN will further strengthen the brand. (ANI-NewsVoir)