Manufacturers to cash in on govt initiative on LED lights
Manufacturers of light-emitting diode 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 said.
Sikka said, Havells is moving swiftly towards LED 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.