NEW DELHI, Jan 11: Manufacturers of LED lights are looking to cash in on the opportunity arising out of the new government’s initiative to push usage of the energy saving bulbs and said they expect the sector to touch a size of Rs 20,000 crore by 2020.
According to the Electric Lamp and Component Manufacturers Association (ELCOMA), the government’s initiative could help propel the industry to grow five-folds in five years from its current size of Rs 4,000 crore.
“As per the ELCOMA vision, LED bulbs market would grow to Rs 20,000 crore by 2020 from an estimated Rs 4,000 crore in 2014. This has been driven by government initiatives of phasing out inefficient lighting sources such as incandescent bulb, tubes and halogen lamps,” Havells India President Sunil Sikka told PTI.
Sikka, who is also President of ELCOMA, said Havells is moving swiftly towards LED (light-emitting diode) based products.
“Almost 40 per cent of our luminaire manufacturing has been changed to LED and we expect this transition to be faster in the coming year,” he added.
According to Philips Lighting, government’s initiative will have an enormous impact in providing India with an energy efficient lighting source.
“This programme will help consumers make the shift to LED lighting and for them to realise the benefits and power of LED lighting. We believe that this initiative for LED based home along with the street lighting will have a great impact in providing our nation with an energy efficient lighting source,” said Philips Lighting Head – Marketing – Sumit Joshi.
Expressing similar views, Surya Roshni Managing Director Raju Bista said that apart from promoting LED bulbs for house lighting, the government has decided to change all street lights and lights in public spaces to LED lights and initiated making all LED specifications. The growing demand would also give push to make-in-India’ initiative.
“It would also help and support Prime Minister Narendra Modi’s ‘make in India’ campaign as the companies would manufacture locally here,” Bista said adding that the company is looking at Rs 500 crore from this segment in the next two to three years.
C K Birla Group firm Orient Electric has also expressed similar views, saying the government support would help the consumers to adopt LED technology and be benefited by it.
“We have geared up to switch more than 50 per cent of our production capacity from CFL to LED. We have started producing LED Lamps and will be reaching speed of 9 lac LED lamps per month by the end of February 2015,” said Orient Electric Sr Vice President and Business Head – Lighting Puneet Dhawan. (AGENCIES)
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