By BizLED Bureau
October 6, 2015: The LED industry in India seems to be bullish as adoption ratio, particularly in the commercial sector, has gone up significantly. As a result, the industry is expecting tremendous growth in the coming five years.
According to industry data, currently, about 5 million pieces of LEDs are being used in India. And, the current size of the LED lighting market in India is about Rs 25,000 million across the country, which is expected to grow at 45% over the next two years, according to industry players.
The Indian LED industry is worth about Rs 20,000 million, and the turnover of the LED lighting industry in 2020 is expected to be Rs 220,000 million.
Industry analysts believe that the Indian government’s efficient lighting program is the main driver for this high rate of LED adoption in the country. This government program will lure consumers to adopt LED bulbs.
LED lighting companies in India are also working towards upgrading the technology and increasing the production capacity to meet the rising demand. These initiatives will help in bringing down the production cost of LED lights.
Photo caption: Indian Prime Minister Narendra Modi inaugurating LED lighting program
None of the facts and figures mentioned in the story have been created by BizLED.co.in. BizLED is not responsible for any factual errors.
Submit new products, case studies/projects, and press releases at [email protected]
LED lighting market in India to grow at 45% over the next two years %%http://bizled.co.in/led-lighting-market-in-india-to-grow-at-45-over-the-next-two-years/%% appeared first on %%www.bizled.co.in%%