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LED manufacturing market in India to hit $3.6 bn by 2020: DeitY

LED manufacturing market in India to hit $3.6 bn by 2020: DeitY
LED Expo 2016 was unveiled on May 12 in Mumbai

By BizLED Bureau

May 17, 2016: Of late, Government of India as well as the state governments are pushing their schemes to implement LED lighting on a large scale across the country. They are not only distributing LED bulbs to the consumers, but also cutting down the price of the LED bulbs to make it affordable to the masses.

Speaking at an LED Summit at LED Expo 2016 in Mumbai, SK Marwah, Director, Department of Electronics and Information Technology, Ministry of Communication & Information Technology (DeitY), Government of India, shared light on the emerging LED lighting markets and the opportunities lay ahead for the players of the Indian LED industry.

Speaking on “Policy Initiatives for Promoting Electronics Manufacturing in India”, he said, “The current market size of LED manufacturing in India is $1.8 billion and this is slated to reach at $3.6 by year 2020. The focus is on Indian manufacturing and 50% will be domestic manufacturing.”

LED Expo India takes into account each and every aspect of LED lighting, product and technologies that form the basis of promoting energy efficiency, cost-saving and environment friendly technologies across the nation. A variety of products relating to advanced lighting systems and power-saving technologies were introduced for the first time in the exhibition.

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LED manufacturing market in India to hit $3.6 bn by 2020: DeitY

Earlier, on May 12, 2016, while inaugurating the expo Chief Guest Chandrasekar Bawankulae, Minister of Energy, New and Renewable Energy, Government of Maharashtra said, “Maharashtra government is aiming to reduce the energy consumption by 35-50%. In order to achieve the same, the state should reach a position where it can charge Rs85 for each LED bulb which is charged Rs.450 each.”

Recently, Maharashtra State Electricity Distribution Company, Pune zone, introduced a scheme to allocate 1 crore LED bulbs to customers with the aim to conserve electricity. Maharashtra government has reduced VAT on LED bulbs and tube lights to 5.5 per cent from 12.5%. He added, “By bringing together all the sector players in the market, there are possibilities to bring in more relevant products in the market and accelerate adoption of pathbreaking technologies.”

Maharashtra government has also implemented the Central Government scheme Ujala, where each LED bulb will be charged Rs100, whose original price would be Rs 450.

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