Spice Group made an announcement on Monday to invest Rs 500 crore to set up a mobile manufacturing unit in Uttar Pradesh.
The group has signed a Memorandum of Understanding (MoU) with the government of Uttar Pradesh for setting up the manufacturing unit. As per the MoU, the state government will provide support to the Spice Group in setting up the manufacturing facility in a time-bound manner. Also, the UP government will facilitate the required infrastructure, ecosystem and incentives under various schemes announced by the state as well as the central government.
This new unit will boost the company’s strategy to introduce affordable mobile internet devices in India through domestic manufacturing. Spice Group has set up India’s first photocopier manufacturing plant in Uttar Pradesh.