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Spice to invest Rs 500 crore to set up manufacturing unit in UP

Spice Group* will be investing Rs 500 crores to set up a manufacturing unit in Uttar Pradesh. The company also signed a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh for the same, as per which the UP Government will support Spice in establishing the facility by providing the necessary infrastructure, ecosystem and incentives under various schemes. Spice will use the manufacturing plant to make affordable smartphones and feature phones to target tier II and tier III cities in India. The company said the unit would help it introduce domestically manufactured cheap mobile internet devices and ‘high technology’ mobile products in the country, as a part of the Government of India's ‘Make in India’ initiative. Spice had been ramping up the diversity of low-cost products it offers in the country throughout last year. The company had launched its…

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