Noida Current Affairs
The second Global Renewable Energy Investment Meeting and Expo (REINVEST- 2018) was organised by Ministry of New and Renewable Energy in Noida from October 3 to 5, 2018. It was inaugurated by Prime Minister Narendra Modi in the presence of Secretary General of United Nations Antonio Guterres. 2nd Global RE-INVEST also hosted First Assembly of International Solar Alliance (ISA) and Meeting of the Energy Ministers of Indian Ocean Rim Association (IORA) countries.
The 2nd RE-INVEST was aimed at accelerating worldwide effort to scale up renewable energy and connect global investment community with Indian energy stakeholders. It included three-day Conference on renewables, cleantech and future energy choices and expo of renewables-related manufacturers, developers, investors and innovators.
The 2nd RE-INVEST provided great opportunity to various organisations to showcase their business strategies, achievements and expectations. It also facilitated collaboration and cooperation with key stakeholders in India, which have emerged as one of the world’s largest renewable energy markets. It was attended by Ministerial Delegations from across the world, including ISA and IORA Member Countries, over 600 global industry leaders, and 10,000 delegates.
It is global platform to explore strategies for development and deployment of renewables. It was built upon success of RE-Invest 2015 and was organized by Ministry of New and Renewable Energy (MNRE). It provides international forum to established players as well as new segments of investors and entrepreneurs to engage, ideate and innovate.
Prime Minister Narendra Modi laid the foundation stone of country’s first Mobile Open Exchange (MOX) zone in Noida, Uttar Pradesh. UP government had signed MoU with World Trade Centre, Noida at UP Investors Summit to develop Tech Zone which will act as catalyst for growth of mobile and allied sectors in the state.
Mobile Open Exchange (MOX) zone
MOX will be dedicated ecosystem for mobile industry, providing integrated platform to mobile manufacturers, research and development (R&D) and allied industries. It brings service providers, handset manufacturers, mobile content, application and service providers, retailers and distributors at one place which promotes indigenous R&D in hardware and start-ups in app development and other domains of the industry.
This unique zone will play pivotal role in attracting investment and area will reap huge benefits from it. The ecosystem will channelize foreign direct investment (FDI) and generate revenues from consumption-based and destination-based taxes. Moreover, its proximity to universities will strengthen industry-academia relations and provide them opportunity to work together in R&D. Chinese company already has set up its manufacturing facility in WTC Noida complex and directly and indirectly employs over 15,000 people.