External affairs, Government ministry

The investment in its facility was part of GX's long-term vision for the Indian market, and with help of an investment from the Netherlands Government, GX is planning to accelerate its focus and have acquired a new manufacturing facility located in Gurugram, IMT Manesar Haryana.The Investment plans are in motion with the acquisition of GX industrial unit with required machinery, and the total project setup up will attract a total investment of 14 million Euros and as per the current plan GX will be ready with its Make in India production by June 2021.The approved Netherlands government's support via the Dutch Good Growth Fund (DGGF), where the Ministry of Foreign Affairs encourages these developments by invests in funds which in turn invest in businesses. The funding to GX will contribute as a catalyst for local economic growth and social improvements in India "Gijs de Rooij, CFO, GX Group said."Our IMT Manesar factory is a sign of GX's strong commitment to India, and an example of the success of the Government's 'Make in India' programme. GX believes in 'Make in India', 'Make for India' and with a target to 'Make for the World'. We are aligned with Government policies and will continue to seek their support to achieve our dream of making India a global exporter for our FTTH equipment," Paritosh Prajapati, Chief Executive Officer, GX Group, said.FTTH Telecom equipment MarketThe global FTTH market based on GPON is estimated to grow from the current USD 6.3 billion to USD 8.3 billion by 2025, at a CAGR of 5.8 per cent. The market growth is propelled by the high demand for GPON networks for triple and quad-play services, increasing demand for high-speed broadband services, advancement in GPON technology, and trial and deployment of the 5G network.In the coming year, we expect to witness an explosion in both internet adoption rates and frequency of usage, creating the world's largest digital adaptation.This story is provided by PNN. will not be responsible in any way for the content of this article. (/PNN)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

External AffairsFOLLOW

External affairs, Latest News

Police are demanding the presence of a suspect - the Belgian ambassador's wife accused of assaulting a clothing store employee. ...

A day after the United Kingdom announced to have dispatched hundreds of vital medical equipment to India, External Affairs Minister Dr S Jaishankar on Monday spoke to UK Foreign Secretary Dominic Raab and held talks in relevance with ongoing COVID-19 ...

Nepal Foreign Minister Pradeep Gyawali held a telephone conversation with External Affairs Minister (EAM) S Jaishankar on Friday and discussed cooperation to fight the COVID-19 pandemic. ...

Vietnam has joined the Philippines in opposing the amassing of Chinese fishing vessels in a disputed Asian sea and demanded that Beijing should cease its violations and respect Hanoi's sovereignty. ...

France welcomes the resumption of the Vienna-hosted nuclear talks, counting on the participants to agree on steps needed for the return of Iran and the United States to the Joint Comprehensive Plan of Action (JCPOA), a spokesperson for the French Min ...

Taiwan on Monday condoled the killings of 22 Indian security personnel in a Naxal ambush in Chhattisgarh and prayed for the recovery of the injured. ...

Zimbabwe on Monday received 'Made in India' COVID-19 vaccines, informed External Affairs Minister S Jaishankar. ...

The investment in its facility was part of GX's long-term vision for the Indian market, and with help of an investment from the Netherlands Government, GX is planning to accelerate its focus and have acquired a new manufacturing facility located in G ...