Lava will start selling its ‘Made in India’ feature phones, smartphones, tablets and accessories in Egypt soon. The company on Thursday announced that it has signed a Memorandum of Understanding (MoU) with Egypt based Easy Group for the same.
The MoU was signed by Hari Om Rai, Chairman and Managing Director, Lava and Asser Salama, Chairman, Easy Group at the joint Business Council of India and Egyptian Federation of Chamber of Commerce in New Delhi.
The firm says that it has aggressive plan for Egyptian market and with Easy Group’s market leadership position in distribution and reach, it will make Lava products available across the country. The joint venture will set up its complete end-to-end business operations in Egypt and will be headquartered in Cairo, Egypt. To begin with, both companies jointly create 2000 direct and 5000 indirect employment opportunities in the next 6 months and over 10,000 employment opportunities in the next 5 years.
Commenting on the joint venture, Hari Om Rai, Chairman and Managing Director, Lava said:
“At Lava, our vision is to empower people to do more and be more – not only in India but also across nations. Our foray in Egypt is a step forward in that direction and we are very delighted to partner with Easy Group who shares our vision and values. The partnership is also a testimony to our focus on ‘Make in India’ initiative – In India for India and the World”.