Indo Asian Fusegear Ltd, Indias largest manufacturer and exporters of compact fluorescent lamps (CFLs) has formed a strategic alliance with Lovato Electric of Italy to market a wide range of industrial electrical products in India. Indo Asian has identified state-of-the-art electrical circuit protection products of Lovato to be sold in India, including motor protection circuit breakers (MPCBs). Lovato Electric is a market leader in special industrial electrical products with a presence in over 80 countries.
"Industrial electrical products are a high growth segment today. The current market for these products is estimated at over Rs 30 crore which is expected to more than double to Rs 60-65 crore in the next two years," said V P Mahendru, chairman - managing director, Indo Asian Fusegear Ltd.
He added, "Besides tapping into this high growth segment, we are also looking at leveraging our strong pan-India marketing network. Indo Asian is a well-known brand in low tension MCBs and fusegears. We would like to extend this to the industrial range of MPCBs as well through our existing extensive marketing arrangement with one of the leading global brands."
Having set up a world-class facility in Noida for producing mercury-less CFLs at a capital expenditure of Rs 15 crore, Indo Asian currently has a robust pipeline for specialised electrical equipment and lightning equipment segment.