Latest News | The Netherlands Govt to Provide More Grants to GX International for India Biz

New Delhi, May 27 (PTI) The Netherlands government has approved additional grants for telecom gear maker GX International Group for expansion of its India business, a top official of the company said on Friday.

GX International plans to set up a research and development centre in Chennai and also hire 100 software engineers this year.

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The Netherlands government investment body Dutch Good Growth Fund (DGGF) has been a major scale up investor, which helped GX International in establishing a production facility at Manesar in Haryana.

The additional grant was approved after the Netherlands' foreign affairs ministry delegates Stan Jansen and Mieke Flierhuis visited the GX manufacturing plant in Manesar on May 23 to review the progress of the investment and thereafter approved the next round of funding.

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GX International Group CEO Paritosh Prajapati told PTI that the company got a total of USD 7 million (Rs 54 crore) as investment from the investors last year.

"With this visit, the investors announced next round of funding by Dutch government, where GX International is planning to further scale up the production, acquisition and partnership of manufacturing units, design houses and opening new research and development centres in Chennai," he said.

GX International is producing more than 2.5 lakh units of broadband equipment every month to meet both domestic as well as export requirements and the company plans to further scale up production with fresh grants.

"GX will employ more than 100 software resources for their Indian and European operations," Prajapati said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)