Spice Mobility Ltd has declared that it will make an investment of Rs 1,000 crore during the existing fiscal in a bid to relocate itself as a mobile Internet company.

At the present time, the company is principally centered on the mobile phone section.

Under the novel plan, Spice will combine all its different sections comprising mobile devices, retail outlets and value-added services into one.

It will also bring a range of associate firms and divisions it has established in Africa's Ivory Coast, Middle East, India and South-East Asia under an umbrella brand.

The Spice Group also has presence in regions like mobility, finance, infotainment and pioneering technologies via its different firms like Spice Mobility, Spice BPO, Spice Digital Spice Labs, Spicei2i, Spice CSL, Spice World, Spice Money, Spice Online Retail, Spice Hotspot, and Spice Cinemas.

While disclosing the tactical roadmap to switch to a mobile Internet company, Dr. B. K. Modi, Chairman, Spice Mobility, said, "India is already one of the two fastest growing large economies in the world and can very well become the largest economy. Mobile Internet can enable India to achieve double digit GDP growth rate by capitalising on the young population of the country."

The switch to the novel approach will influence Spice Group's business sections across divisions and geographies.

"We already have other subsidiary and associate companies in the i2i region (Ivory coast to Indonesia) and it is our intention to bring all of them under one fold. This will also help double Spice group revenues in the next two years," Mr. Modi added.