Tuesday, January 27, 2015

Spice to invest Rs500 crore in factory in Uttar Pradesh

Mumbai: Mobile-phone maker Spice Group on Tuesday said it will invest Rs.500 crore to build a factory in Uttar Pradesh and has signed an agreement with the state government in this regard. The unit will boost the company’s efforts to sell cheap smartphones through domestic manufacturing, it said in a statement. 
The Uttar Pradesh government will support the Spice Group in establishing the facility in a time-bound manner and facilitate the necessary infrastructure, ecosystem and incentives under various schemes announced by the state and central governments. “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,” Dilip Modi, chairman of Spice Group, said in the statement. 
We would like to thank the government of Uttar Pradesh for once again extending their support in expanding our company’s business plans.” The Spice Group sees markets in smaller cities as providing opportunities for its affordable range of smartphones and feature phones. The Spice Group had partnered Google Inc. to offer the low-cost Android One mobile phones in India.

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