Indian Lighting Industry is having a steady growth of over 10 percent in the last few years. The growth has remained consistent, even when there has been up’s and downs in many other sectors due to the slum in the recent past in the Western world.
In 2013, Indian LED Industry generated a revenue of Rs. 20 Billion. As per the ELCOMA estimation in 2014 LED industry , which had a turnover of Rs. 120 Billion will reach Rs. 370 Billion by the year 2020.
Although late, the government of India has announced a lot of incentives and measures in order to prioritize LED manufacturing in the country. The consistent favorable policy by the Government of India is one of the major factors for rapid development of the Light Industry in India. The Government of India’s policy of rural electrification has created new demand besides infrastructural development covering urban housing, roads and other projects have also created new demand for lighting products.
It is reported that 20% of the total electricity produced all over the world, is consumed by domestic lighting users.
However, by replacing the out of date incandescent, halogen, fluorescent lamps, etc with the modern LED lights, will reduce the consumption level of electricity to the level of 4% from 20%. This grants us the opportunity to utilize the surplus energy in other sectors.
Considering all the above facts, it is expected that the Indian Lighting Industry will continue to grow at higher rate per annum ranging between 13% and 15% until 2020.
(Data Source: Government Organization and Economic Magazines research and reports survey)