What is Mobile Open Exchange (MOX)?
The full form of this abbreviation is the Mobile Open Exchange (MOX). It is an ecosystem in itself, which will be dedicated to mobile industry. MOX zone will be a huge mobile industry which will be located in Greater Noida comprising a platform to mobile manufacturers and app developers. This will be a great platform for research and development (R&D) and allied industries as well.
This zone will promote start-ups in app development as it will be a place for service providers, handset manufacturers, mobile content, application and service providers, retailers and distributors altogether.
At UP Investors summit, Prime Minister Narendra Modi laid the foundation stone of country’s first Mobile Open Exchange (MOX) zone in Noida, Uttar Pradesh. Tech zone will be developed to act as a catalyst for the growth of mobile and allied sectors in the state after UP government had signed MoU with World Trade Center Noida.
There are major reasons behind this unique zone, for instance, it will bring more investment to the area along with many benefits. VIVO, Chinese Technology Company with their employees over 15,000 people have already set up their manufacturing facility in WTC Noida. The aim is to channelize foreign direct investment (FDI) and generate revenues from consumption-based and destination-based taxes.
To sum up, the benefits of MOX include:
- Contribution to Economy
- Tax Revenue
- Employment Generation
- Academic Relations
- Value addition to occupants
- Support Government initiatives
