 "GX Group to invest ₹500 crore in India for photonic module and chip unit")
Broadband gear maker GX Group on Friday said it will set up a photonic module and chip arm in India with an initial investment of Rs 500 crore.
The new subsidiary, headquartered in Manesar, Gurgaon, is expected to create over 300 direct jobs, GX Group CEO Paritosh Prajapati said.
The group currently has about 250 employees in India.
The Phase 1 investment of ₹500 crore will be deployed towards establishing a manufacturing facility in Bhiwadi, Rajasthan, and expansion of its existing R&D centre in Chennai, Prajapati told PTI.
"We will start operating the facility and the R&D centre by Q1 FY27. And we will start rolling out chips immediately after. The local market will get the chips by October 2026," he said.
Quantum Photonics eyes a USD 50 billion addressable market in India, with GX Group's existing customer base, including tier I telecom operators and data centre companies, already showing interest.
GX Group's existing customer base includes Airtel, ACT, and Tata Play.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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