Indian Economy News

US electrical product maker Intermatic ties up with AMTL to enter into India

The US-based electrical product maker Intermatic Inc has forayed into India, through its German subsidiary GrasslinGmbh, by forming a strategic alliance with home grown Advanced Metering Technology Ltd (AMTL), formerly Indo Asian Fusegear Ltd, to bring its range of products and provide light and temperature control solutions.

The partnership coincides with the government's initiatives to develop 100 smart cities at an estimated $ 1.5 billion further a string of initiatives undertaken by the government like UDAY with a total outlay of Rs 1.4 lakh crore and AMRUT mission for economic growth and welfare.

As part of the partnership, AMTL (headquartered in Noida, UP) will distribute Grasslin's range of electrical switch products such as time switches, light and temperature control solutions across India. The partnership creates integrated operations that are both a promotion and distribution outlet for electrical products in India, one of the fastest-growing domestic electrical switch markets which is pegged over Rs 1000 crores.

“India is an important market for us as it is witnessing high growth, given the spurt in manufacturingand industrial activities. Domestic demand for electrical products is expected to soar due to rising awareness about the supply of quality power and the increasing number of industries and manufacturing facilities in India. We are delighted to partner with AMTL for supply of our range of electrical products such as time switches, light and temperature control solutions,” said Axel Schuler, head of sales & marketing, Grasslin Gmbh.

In line with the nation's need for energy conservation and energy efficiency, the market demand for time switches, light and temperature control solutions is poised to grow manifold in the next few years. This market is expected to be fuelled by several government initiatives, including the smart cities mission and other programmes being actively promoted by the Ministry of Power through the Bureau of Energy Efficiency (BEE) and other entities.

P K Ranade, chairman and managing director, AMTL, added, "Increasing awareness among household consumer as well as industry about the need to conserve energy has resulted in widespread adoption of new technologies and products to better control, monitor and conserve energy. We are upbeat about our association with Grasslin vis-a-vis its range of green technologies and products for the Indian market."

The demand for time switches, light and temperature control solutions is expected to surge in the wake of the renewable energy initiatives undertaken by the government domestically as well as its global commitment to curb emissions intensity between 33 to 35 percent per unit of GDP by 2030. Rapid adoption of leading technologies will help strengthen this effort by reducing overall energy usage in the electrical power sector.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

Partners
Loading...