LED lighting, being eco-friendly and 80% more efficient than fluorescent and incandescent lighting, has witnessed phenomenal growth over the past few years in India, and the trend is expected to continue. There is an increased focus by the Government of India toward energy conservation and efficiency, and it plans to convert existing street lights into LEDs. The Government has announced Modified Special Incentive Package Scheme to promote large-scale manufacturing in the Electronic System Design and Manufacturing sector.
In India, LEDs are now used in applications as diverse as aviation lighting, automotive headlamps, advertising, general lighting, traffic signals, camera flashes, and even LED wallpaper. LEDs also find applications in various forms across industries, including automotive lighting, railway signals, background lighting, displays and signage and medical appliances.
India is an attractive market for both in-house as well as international LED players. Over 75% of LED lighting products are imported and the remaining 25% account for low value-add assembly activity. More than 10% of the LED lights assembled in India are exported to countries such as Europe, the United States, Australia, Asia-Pacific, the Middle East, Latin America and South Africa.
The Indian LED lighting market is expected to grow to over $6 billion in 2020, growing at a CAGR of 62% between 2016 and 2020.
