Sterling Tools Limited, through its wholly owned subsidiary Sterling Tech-Mobility Limited, has entered a technical collaboration with Zhejiang Meishuo Electric Technology Co., Ltd., China. The partnership aims to manufacture latching relays in India for applications in the energy sector, industrial grids, and consumer appliances.
The collaboration includes an initial investment of ₹20 crore for setting up a manufacturing facility in Bengaluru. The company projects revenue generation of ₹200 crore by FY2030 from this initiative. The production of latching relays will support the local market by reducing reliance on imports, aligning with broader efforts to enhance self-reliance in India’s industrial supply chain.
Latching relays, which enable efficient remote power management, are integral to smart metering systems and other industrial applications. These devices consume energy only when switching states, offering operational efficiency.
Commenting on the partnership, Anish Agarwal, Director at Sterling Tools, stated that the collaboration marks the company’s diversification into the energy sector and reflects a commitment to localizing advanced technology manufacturing.
Zhejiang Meishuo Electric, a China-based manufacturer established in 2007, specializes in relays and related components for various industries. This partnership will enable Meishuo to bring its expertise to the Indian market, catering to the growing demand for energy-efficient solutions.
Sterling Tools, known for its automotive fasteners, has been expanding into new sectors, including electric vehicle components and advanced high-voltage relays.
The partnership aligns with the company’s strategy to capitalize on emerging opportunities in India’s energy and industrial sectors while contributing to domestic manufacturing capabilities.