Micromax on a Rs 2000 crore expansion spree

India's leading handset manufacturer Micromax, which opened its new manufacturing facility in Hyderabad  on Thursday, plans to invest Rs 2,000 crore for expansion over the next five-six years said senior executives.

Rajesh Agarwal, co-founder, Micromax, told reporters that the company will expand its operations to two to three countries this year. Already present in SAARC countries and Russia, it is looking at CIS countries, Africa and Iran for expansion. Micromax targets 25 per cent growth during 2016-17 to achieve revenues of Rs15,000 crore. The revenue in 2015-16 was Rs.12,000 crore.