While Gingerbread has not been announced officially by Micromax, but there are many people claiming that it is possible.
Bharat @igyaan mentioned on his site a month ago that it is possible & infact quite easy. But no further update has been there ever since.
Since A70 is quite close default android, GB will come sooner or later to this phone. What matters is a dedicated & motivated enough dev.
Well, should you care?
Froyo is a very stable version of Android & GB doesn’t offers much new features than Froyo. But still acess to GB will unlock many opportunities for devs. Also it will result in accelerated development & fantastic Custom Roms..!!
We will update you if we hear anything about it!! Keep an eye on this post.