Indian LED Industry players believe that government's domestic efficient-lighting program is a good initiative which will propel consumers to adopt LED bulbs early. As on date, there is no proposal to make it mandatory.
The lighting companies have also been working to upgrade technology, which is again playing a important role in cuting down the production cost of LED lights. Besides with growing demand, production volume will pick up, which will help to cut down the price.
Out of the total Indian lighting industry turnover of Rs14,000 crore, the LED industry is worth nearly Rs2,000 crore. The estimated turnover of the lighting industry pan-India in 2020 is about Rs37,000 crore and out of this, Rs22,000 crore is estimated to be from LED segment, which will be in excess of 60% of the total turnove.