The investment in its facility was part of GX’s long term apparition for the Indian market, and with assist of an investment from the Netherlands Government, GX is planning to speed up its concentration and have attained a new manufacturing facility located in Gurugram, IMT Manesar Haryana.
The Investment strategies are in motion with the achievement of GX industrial unit with required machinery, and the total project setup 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 permitted 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 revolve invest in businesses. The funding to GX will contribute as a catalyst for local economic growth and social improvements in India “Gijs de Rooji, CFO, GX Group said.”
“Our IMT Manesar factory is a sign of GX’s strong commitment of 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 for our FTTH equipment,” Paritosh Prajapati, Chief executive Officer, GX Group, said.
FTTH Telecom equipment market
The global FTTH market based on GPON is estimated to nurture from the current USD 6.3 billion to USD 8.3 billion by 2025, at a CAGR of 5.8 percent. The market growth is propelled by the huge 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 upcoming year, we expect to witnesses an explosion in both internet adoption rates and frequency of usage, creating the world’s largest digital version.