Lucknow, January 27, 2015: Leading mobile internet conglomerate, the Spice Group, has announced an investment of Rs 5 billion ( Rs 500 crores) to set up a manufacturing unit in the Indian state of Uttar Pradesh. The company also signed a Memorandum of Understanding with the state government for the purpose.
The manufacturing unit will bolster the company’s strategy to introduce affordable mobile internet devices in India through domestic manufacturing, thus catering to a larger market by offering best technology at most affordable prices.
The UP governmenr will support Spice Group in establishing the facility in the State in a time bound manner and facilitate the necessary infrastructure, ecosystem and incentives under various schemes announced by the State and Central Government.
Says Dr Dilip Modi, Chairman, Spice Group: “We are delighted to announce our investment plans to set up a mobile manufacturing unit in Uttar Pradesh with the support of the Government of Uttar Pradesh. With a local manufacturing plant, Spice Group can achieve its vision to create affordable and high technology mobile products for a larger audience. Uttar Pradesh has had a strong connection with our group, ever since we set up the country’s first photocopier manufacturing plant in the state. “