Eveready to switch from ‘made in China’ to ‘made in India’ LED lights
Dry cell battery major Eveready Industries India Ltd (EIIL) will switch to made-in India LED lights and aiming revenues of more than Rs 700 crore from the segment in the next 2-3 years.
“We will go for made-in-India LEDs by the year end. But, it is not decided whether we will have our own manufacturing or outsource from an Indian vendor,” company Managing Director Amritanshu Khaitan said here on Monday.
At present, the company sells LED lights which are outsourced from China. “LEDs would be the growth driver over the next few years as we see the lighting and electrical business growing by 35-40 per cent in the next 2-3 years. We expect topline from LEDs of Rs 700-1,000 crore,” he said. Falling prices of LED are helping people to switch from CFL, but it is still an urban phenomenon. Over the next three years LED sales will take over CFL lamps, he added.
There will be 25 per cent to 30 per cent decline in LED bulb prices in the next six months, Khaitan said. Currently, Philips India Ltd, Havells India Ltd and privately held Syska LED are the major domestic players in the segment.