According to reports, Eco-friendly LED (light-emitting diode) lights, which consume 35 per cent less than CFL and 80 per cent less than electric bulb, can solve the power shortage in the country, said LED Manufacturers Association (LEDMA) president M.V. Ramana Rao here on wednesday.
Stating that LED lights would replace 40 per cent lighting market by 2015, he urged the Central Department of Information Technology to promote manufacturing of LED lights and asked the Centre to reduce Central excise duty and VAT.
“LEDs are finding more and more application in signals, signage/displays, automobiles, back lighting units for TV, monitors and mobiles, while the thrust is also on solar LEDs. ‘Packaged LED’ market globally is expected to grow from $9 billion in 2010 to $30 billion by 2020 in India. Similarly for LED products, the global demand will exceed $300 billion by 2020 from $30 billon today,” he said.
Mr. Rao said the Department of Information Technology should take the lead and promote manufacture of LED lights so that India emerges as a global hub for ‘packaged LED’. “India should set up facilities for wafer processing to make LEDs…it will cater to growing demand for LEDs in the US, Europe and other countries. In addition to domestic demand, there will be huge demand for exports of these products that could reach $50 billion by proper positioning of the segment of LED products, which will be more than 10 per cent of electronic hardware market in India,” Mr. Rao added.