Sterling Tools has tied up with Zhejiang Meishuo Electric to manufacture latching relays locally, targeting revenues of Rs 2 billion by FY 2030. The scheme is helping India achieve self-sufficiency and reduce import dependence in the power sector.
Sterling Tools Limited, a leading Indian manufacturer of automotive fasteners, has entered the power sector through its subsidiary Sterling Tech-Mobility Limited. The company has partnered with Zhejiang Meishuo Electrical Technology Co., Ltd. of China to locally manufacture latching relays in India for use in the power sector, industrial networks and various applications.
These relays play a key role in reducing energy consumption and extending the life of critical components in smart metering systems, as well as in industrial and household appliances. They use a locking mechanism that allows remote connection and disconnection of power supply to the consumer’s premises, which helps minimize energy consumption during operation.
The partnership is expected to generate revenues of Rs 2 crore by FY2030. Sterling Tools plans to invest an initial Rs 20 crore to set up a new plant in Bengaluru for local manufacturing and assembly of latching relays. By manufacturing these components in India, the company aims to reduce its dependence on imports and support the Atmanirbhar Bharat and Make in India initiatives. The project is expected to provide Indian companies and suppliers with advanced local technologies, helping to create a self-sustaining ecosystem for the industrial and home appliances sectors.
Anish Agarwal, Director, Sterling Tools Limited, noted that this collaboration is a major step towards local manufacturing of latching relays. He stressed that the company is looking beyond its automotive base to meet India’s growing demand for advanced technologies in the energy sector that will drive innovation and improve efficiency.
A latching relay is an electromechanical switch that maintains its position without power being applied to the coil. Unlike traditional relays, latching relays only consume power when switching states, saving energy and reducing operating costs.
Huang Xiaohu, Chairman of Zhejiang Meishuo Electrical Technology Co., Ltd., said that India’s industrial and consumer markets have huge growth potential. Through this collaboration, the two companies aim to provide high-quality solutions that meet India’s evolving industrial and consumer needs, and contribute to the country’s goals of sustainable development and self-sufficiency.
Sterling Tools plans to expand local manufacturing of electrical components, systems and relays through Sterling Tech-Mobility Limited. The move aims to strengthen India’s industrial supply chain and reduce reliance on imports, enabling the partnership to take advantage of emerging market opportunities and contribute to a sustainable future.
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Post time: Feb-28-2025