Spice names Singapore as its HQ

Indian business conglomerate Spice Corp has launched its headquarters for global business in Singapore and has appointed Parikshit Bhasin as group president for global business and alliances.

Bhasin comes to Spice with over 25 years of experience in operations as well as sales and marketing and has held positions like general manager and director of business development for APAC at Nokia.

Spice plans to enter the international market with mobile handsets and value-added services initially, and will diversify into films and entertainment eventually. An initial investment of US$ 200 million has already been announced by the group.

According to B.K. Modi, global chairman, Spice Group, the international focus would be on markets from Israel to Indonesia (I to I).

"Asia, especially I to I, is emerging as the most dominant growth market in the mobile space. This trend is in line with the group's expectations that Asia will be one of the most lucrative markets to strategically expand our business," Modi said.