The Umesh Modi Group signed a JV with Illva Saronno, Italy based spirits
maker, to enter the Indian spirits market.
The 50:50 JV, christened Modi Illva, will first launch Illva's luxury vodka
brand, Artic, in the Indian market.
The Group will manufacture and produce the range of vodka at its plant at
Modi Nagar in Uttar Pradesh. It has already invested about $2 million (approx Rs
90 crore) in the venture and plans to invest an additional $10 million (approx
Rs 45 crore) in next two years.