Taking forward the Government of India’s Make in India campaign, Spice Group, a leading mobile internet conglomerate has announced an investment of Rs 500 crores to set up a manufacturing unit in Uttar Pradesh. At the occasion, the company also signed a Memorandum of Understanding with the Government of Uttar Pradesh for setting up the manufacturing unit in the state. The manufacturing unit will bolster the company’s strategy to introduce affordable mobile internet devices in India through domestic manufacturing, thus catering to a larger market by offering best technology at most affordable prices, as per press statement of the company.
Under the Memorandum of Understanding, the Government of UP will 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 under various schemes announced by the State and Central Government, adds the statement.
In a brand survey conducted by The Economic Times Brand Equity in 2014, Spice Group was ranked as the second most trusted Indian mobile brand in the country. Spice Group targets the tier II and III markets through its affordable segment of smartphones and feature phones and unique offerings.
This announcement by Spice is a win win situation for the state of Uttar Pradesh. Only yesterday, Samsung India has announced expansion of its Noida facility with an investment of Rs. 517 crores for manufacturing Z1 smartphones. In the coming days, we expect such more announcements not only for UP, but for other states also.