Sterling Tools has forayed into the energy sector through its wholly owned subsidiary, Sterling Tech-Mobility. The company has partnered with Zhejiang Meishuo Electric Technology Co., China to locally manufacture latching relays for the energy sector, industrial grids, and other applications in India. These relays are crucial in reducing power consumption and thus extending the lifespan of key components
across smart metering systems, as well as industrial and white goods applications. They enable the remote connection and disconnection of power to a consumer's premises, utilizing a latch mechanism that minimizes energy consumption during operation.
This association is expected to generate Rs. 200 crore in business by FY30, and Sterling Tools will bring the niche technology to manufacture and assemble latching relays locally at a new facility in Bengaluru, India, with an initial investment of around Rs. 20 crore.
By producing these components domestically, Sterling Tools aims to drive import substitution and reduce reliance on imports, aligning with the Atmanirbhar Bharat vision and supporting the Make in India initiative. The development will empower Indian companies and other suppliers to access advanced technology locally, building a self-reliant ecosystem for the industrial and white goods industries.
Sterling Tools, through its wholly owned subsidiary Sterling Tech-Mobility, plans to expand the local manufacturing of electrical components, systems, and relays, strengthening India's industrial supply chain and reducing reliance on imports. With the market poised for significant growth, this partnership is well-timed to capitalize on emerging opportunities while contributing to a sustainable future.