NEW DELHI: Handset maker Spice Group has announced an investment of Rs 500 crores to set up a manufacturing unit in Uttar Pradesh as part of government’s ‘Make in India’ campaign.
The company also signed a Memorandum of Understanding (MoU) with the government of Uttar Pradesh for setting up the manufacturing unit in the state.
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.
Under the MoU, the Uttar Pradesh government will support Spice Group in establishing the facility in the State of Uttar Pradesh in a time bound manner and facilitate the necessary infrastructure, ecosystem and incentives under various schemes announced by the state and central government.
“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. We would like to thank the Government of Uttar Pradesh for once again extending their support in expanding our company’s business plans,”said Dilip Modi, Chairman, Spice Group.
Through the facility, the company aims to create a high quality production environment, thereby introducing a wider range of high technology mobile internet devices at affordable costs.
The company targets the tier II and III markets through its affordable segment of smartphones and feature phones and unique offerings.