Indian LED industry is likely to reach Rs 21,600 crore by 2020 following government's decision to switch to LED for all street lamps and public space lighting,
The Indian LED industry is likely to reach Rs 21,600 crore by 2020 following government’s decision to switch to LED for all street lamps and public space lighting, an industry official told PTI.
The Indian Led sector was estimated at Rs 1,925 crore out of the 13,000 crore lighting industry's aggregate turnover of Rs in 2013.
Commenting on the development, Surya Roshni Managing Director, Raju Bista told PTI that the Indian LED industry is expected to touch be Rs 35,000 by 2020; wherein the LED sector will reach Rs 21,600 crore. Besides, it will be around 60 per cent of this total turnover.
He further added that with the Narendra Modi-led government's support for the promotion of LED lighting, this industry is expected to flourish.
Furthermore, Prime Minister Narendra Modi’s Make in India initiative will boost the growth of the LED industry.
‘Surya has already commenced in-house production of indoor and outdoor LED products at its plants, which include LED bulbs, down-lighters of various shapes and sizes as well as street lights.
Besides, the company's prime focus is to educate and promote only sustainable energy efficiency and drive the LED segment forward, ‘Bista added.
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