INSUBCONTINENT EXCLUSIVE:
Microtek is planning to invest Rs 500 crore to boost its electric product businessPower appliance maker Microtek is planning to invest Rs
500 crore to boost its electric product business over the next one year, according to company officials quoted in a PTI report
The company will primarily make investments in research and development and ramping up the manufacturing of its products."We have crossed Rs
We are targeting to cross Rs 400 crore revenue and invest Rs 500 crore in the next one year," said Microtek International Deputy Managing
Director Saurabh Gupta.As per industry estimates, the domestic electrical equipment market is expected to grow at an annual rate of 12 per
cent to reach around 5.4 lakh crore by 2025, he added
"So, there is an immense potential in the market, which Microtek as an Indian company is very keen to tap," Gupta said.Presently, the
"We will be using this investment in R-D and manufacturing as we want to ensure that the quality of our products remains world-class and our
