The downward trend in LED prices, together with governmental incentives on an unprecedented scale, will propel the LED market in India for the next five years. Established major makers are planning manufacturing activities in India, and new entrants are expected to germinate as well.
A recent TechSci Research report, "India LED Lighting Market Forecast & Opportunities, 2020" predicts over 32% growth in India's LED lighting market from now until 2020. Declining LED prices have set the stage, and there are big government subsidies in the offing for consumer- and public-lighting LED retrofits. Secondarily, consumer education programmes by manufacturers and regulators will help bolster the country’s LED market.
The Government of India has launched the world's largest-ever LED lighting retrofit programme worldwide.