Minda Stoneridge Instruments Limited (MSIL), a group company of the Spark Minda entered into a joint venture with Stoneridge Inc, a leading manufacturer of Electronics instruments. As a part of this agreement the $834.289 mn Stoneridge Inc, USA (NYSE: SRI) has 49% stake in MSIL. With this development, MSIL has exclusive manufacturing and marketing rights for India and 17 Asian countries, namely Malaysia, Indonesia, Philippines, Singapore, Thailand, Vietnam, Pakistan, Bangladesh, Brunei, Burma, Cambodia, Laos, Mauritius, Maldives, Nepal and Sri Lanka.