Spice Group announces Rs 500 crore investment to build mobile manufacturing unit in UP
The group has signed an MoU with the government of UP to set up the plant in the state, under the "Make in India" campaign.
Taking forward the government of India’s "Make in India" campaign, Spice Group, a leading mobile internet conglomerate today announced an investment of Rs 500 crore, to set up a manufacturing unit in Uttar Pradesh. At the occasion, the company also signed a Memorandum of Understanding with the Government of Uttar Pradesh for setting up the factory. 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 the best technology at affordable prices.Under the MoU, the Government of UP will support Spice Group in establishing the facility in a time bound manner and facilitating the necessary infrastructure, ecosystem and incentives under various schemes announced by the State and Central Government. Commenting on the announcement, Mr. Dilip Modi, Chairman of Spice Group, said, “We are delighted to announce our investment plans to set up a mobile manufacturing unit in Uttar Pradesh with the support of the state government. 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. We would like to thank the Government of Uttar Pradesh for once again extending their support in expanding our company’s business plans."