NEW DELHI: In the course of the last four years, LED production in India has grown from 2,100 crore units to 13,000 crore units in 2019, said S.K Marwaha, senior director, Ministry of Electronics and Information Technology (MeitY).
Marwaha was speaking during the inauguration of the LED Expo New Delhi 2019 organized by Messe Frankfurt India in Greater Noida.
"Along with the development of other technologies, manufacturing of LED lights has been the major focus for ‘Make in India’ initiative. Various incentive schemes in the country have given a major boost to the domestic market, making ‘Made-in-India’ products globally competent. Today, about 35%-40% of LED lights and technologies are manufactured in India," added Marwaha.
" India LED Lighting Market is anticipated to touch USD 7.7 billion by 2025, registering a CAGR of 23.6% during 2019-25,” said Rajat Kharbanda, client partner, 6Wresearch.
Interestingly, Karnataka government is promoting its policy on cluster development of the LED lighting sector and investment prospects within the state.
The 21st edition of the expo claims to have witnessed a 14% surge with 389 exhibitors while the exhibition space and international participation have seen 18% and 25% growth respectively.
"This edition has attracted 161 companies from international contingents like China, Finland, Hong Kong, Italy, Japan, Korea, Taiwan, and the UAE," said Raj Manek, executive director, and board member, Messe Frankfurt Asia Holding.
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Media Courtesy : Realty Economic times