Indian smartphone manufacturer Spice group announced a Rs. 500 crore investment on setting up a manufacturing plant in Uttar Pradesh. It has signed a Memorandum of Understanding with the Government of Uttar Pradesh for setting up the manufacturing unit in the state. Under the MoU, the Government of UP will support the 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.
As a great offer for "Make In India" Campaign, this unit would create opportunity for introducing affordable mobile internet devices in India through domestic manufacturing, thus targeting a larger market by offering the best technology at the most affordable prices, said the company.
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'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.' stated Dilip Modi, Chairman, Spice Group.
The company will be targeting tier II and III markets by producing affordable segments of smartphones and other unique offerings. For a change it is really amazing to see Indian mobile manufacturing companies invest in building manufacturing units in India. Hence, increasing job employment rates and cutting down the cost of mobiles.
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