The Indian arm, which will be named ZWZ Bearings India Pvt Ltd, expects annual sales of 1 billion rupees for the first three years and set up a full fledged manufacturing base in the next two-three years, the company said in a statement.
Till then, ZWZ Bearings India will import product requirements from China, it said.
As an early market initiative, the Indian arm will launch about 5,000 types of industrial bearings in India and gradually take the portfolio to 15,000.
The company wants to garner higher revenues from sectors such as steel and metal, power, mining, construction & infrastructure related supplies, cement and railways.
ZWZ makes forged and semi-finished bearing components such as races, cages, balls and rollers.
India and China have agreed on an ambitious target of $100 billion in trade between the rising Asian powers by 2015, during Chinese Premier Wen Jiabao's visit to New Delhi. (Reuters)
