US firm in JV with AMTL for foray into India's electrical equipment market

NEW DELHI: American electrical equipment maker Intermatic Inc announced its foray into India in joint venture with Noida-based AMTL, which was earlier called Indo Asian Fusegear Ltd.

Intermatic's subsidiary Grasslin Gmbh has struck a strategic alliance with AMTL to offer its switches, light and temperature control solutions.

India's electrical switches market is pegged at over Rs 1,000 crore.

The partnership targets to tap into the government's plans to develop 100 smart cities at an estimated $1.5 billion (about Rs 10,060 crore).