New Delhi, July 28 (ANI
): US electrical product MNC Intermatic Inc today announced its foray into India through its subsidiary Grasslin Gmbh, forming up a strategic alliance with home grown AMTL 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 US
D 1.5 billion further following a string of initiatives undertaken by the government with a total outlay of Rs. 1.4 lakh crore and AMRUT mission for economic growth and welfare.
As part of the partnership, AMTL (Advanced Metering Technology Ltd) 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 crore.
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.
"India is an important market for us as it is witnessing high growth, given the spurt in manufacturing and 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," said Head of Sales and Marketing Grasslin Gmbh, Axel Schuler.
"We are delighted to partner with AMTL for supply of our range of electrical products such as time switches, light and temperature control solutions. AMTL is undertaking commendable work in energy efficiency and we are confident about their ability to deliver in the Indian market," added Axel Schuler.
"We are upbeat about our association with Grasslin Gmbh
vis-a-vis their range of green technologies and products for the India
n market. Increasing awareness among household consumers as well as industry about the need to conserve energy has resulted in widespread adoption of new technologies and products to control, monitor and conserve energy," said Chairman and Managing Director AMTL
, P K Ranade. (ANI