Spice group to invest Rs 500 Crore in domestic manufacturing unit

The government is very serious about its Make In India campaign and many corporates are also joining in to strengthen the campaign further. Now the Spice Group has also joined bandwagon and has announced the investment of Rs 500 crores to set up a manufacturing unit in Uttar Pradesh. In order to take this further the company also signed an MoU with the government of Uttar Pradesh in order to set up the unit.

The company aims to introduce affordable mobile internet devices in India through domestic manufacturing. Moreover, according to the MoU the UP Government will also 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.

Talking about this step, Dilip Modi, Chairman, 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 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.”