Feb1, 2017: The Indian government is agressively moving ahead with the ambitious target of giving power to all by 2019. It is not only boosting electricity output like solar power generation, but also promoting energy-efficient LED lighting across the country.
India’s LED lighting market has been projected to expand by 47.1% year on year (YoY) by end-2016, reaching $ 1.14 billion.
The domestic lighting manufacturers expect that due to this aggressive drive for power for all, and to push ‘Make in India’ program, the government will surely bring in some fiscal and policy incentives in the upcoming Union Budget 2017-18.
This will help develop a level-playing field for the domestic lighting manufacturers to compete with the global giants like Philips, and also companies from China, who enjoy high level of their government’s support.
The lighting manufacturers say that they too need similar support from the Indian government to eliminate the dependence on imported components and products to make good quality products at a competitive price. However, industry experts believe that the domestic manufacturers will still face some challenges as the LED supply chain lacks experienced local suppliers.
Industry insiders are of the opinion that incentivising LED lighting manufacturing in India is a must, then only India can meet its power for all target by 2019. They believe that the conventional lighting product manufacturers should be encouraged with incentives and subsidies to switch over to making LED lighting.