Sterling Tools Collaborates with China's Meishuo Electric for Power Transmission Solutions in India

03 Dec 2024

Sterling Tools Limited, an Indian manufacturer of automotive fasteners, is expanding into the energy sector via its subsidiary, Sterling Tools Limited. The company is collaborating with China's Zhejiang Meishuo Electric Technology Company to manufacture latching relays in India for use in power, industrial grids, and various other applications.

The initiative seeks to enhance domestic production in alignment with India's 'Atmanirbhar Bharat' and 'Make in India' initiatives. This collaboration is projected to achieve a turnover of ?200 crore by FY30, starting with an initial investment of ?20 crore in a new facility in Bengaluru.

Sterling Tools' subsidiary will manufacture latching relays, crucial for minimising power consumption across multiple applications such as smart metering systems, industrial machinery, and consumer appliances. Unlike traditional relays, latching relays consume power only when changing states, reducing energy usage. This initiative to produce locally seeks to decrease India's reliance on imports and promote a more self-reliant ecosystem.

This domestic production of components is a key step towards import substitution, supporting the Atmanirbhar Bharat vision of self-reliance while also strengthening the Make in India initiative by promoting domestic manufacturing. It will provide Indian companies with access to advanced technology locally, contributing to the development of a robust ecosystem within the industrial and consumer goods sectors.