Lei Jun, the founder of Chinese tech giant Xiaomi, says he will give the award to charity.Read more
China's electronics giant Xiaomi - also India's largest smartphone vendor - will grow the number of Mi Stores it operates in India from 500 to 5,000 by the end of 2019 - that's according to The Economic Times in India.
The move is expected to generate more than 15,000 jobs.
Xiaomi opened 500 Mi Stores across 14 states in India on October 29 - setting a Guiness World Records achievement for the most number of retail stores opened at one time, ever.
The Chinese firm has been in India since 2014.
"Flash sales" publicising a Chinese smartphone company's UK launch have sparked a backlash on social media.
Xiaomi advertised two of its new handsets for £1 each last week as part of a "crazy deals" promotion.
But it has emerged that each flash sale involved only two or three phones and Xiaomi had set its website to say: "Sold out," as soon as the sale opened.
The UK's ads watchdog said it had received a complaint and was now deciding whether to investigate.