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How much business opportunities does the Indian LED lighting market have?
India, an ancient and magical country, the torrent of Ganges water raises 1.3 billion people. The strong domestic demand and active manufacturing brought by the demographic dividend make it one of the fastest growing economies in the world. In sharp contrast to the impressive economic growth, the country's infrastructure is still very weak, with more than 80 million people using kerosene lamps, and 70% of the roads have not yet been built. Coupled with India's mysterious and complex religious beliefs and culture, it is an incredible country. India may become the largest LED lighting system market While the global economy is still in the doldrums, the rapid growth of the Indian economy is quite eye-catching. As a potential emerging market, it has attracted many international leading manufacturers to start attacking and use it as the next production base. International lighting giants OSRAM, PHILIPS have set up R&D centers or manufacturing plants in India. According to the foreign media "India Times" reported that thanks to the UJALA plan proposed by the Modi government, that is, the plan to replace all inefficient bulbs with energy-efficient lamps, India is expected to stand out and become the largest LED lighting system market. The huge domestic demand and energy-saving renovation project has enabled India's LED lighting market to show rapid growth. In 2015, the market size reached 924 million US dollars. The research report pointed out that the LED lighting market in 2016 reached 1.14 billion US dollars, an annual growth of 47.1%. It is estimated to climb to $1.715 billion in 2020. Foreign research institute TechSci said that in the foreseeable future, perhaps 3-5 years, India will realize the localized manufacturing of LED lighting sources (China, Taiwan and other companies set up factories in India also counted in localized manufacturing), from importing countries As an exporting country, China’s meager profits on LED light source products will be further squeezed. For the foreseeable future, India is likely to become the biggest competitor in China's lighting products. Indian LED lighting exports to India data analysis Spring River plumbing duck prophet, China's LED lighting companies have long seen the potential of the Indian lighting market, and occupy the market with a yearly export volume. According to China Customs data, China's total export growth of LED lighting products in India has been growing at a high speed in 2011-2015. In 2015, China's exports of LED lighting products in India totaled 200 million US dollars, an increase of 42.1% over the same period of 2014. And the data show that from January to December 2015, among the importing countries of India's LED lighting products, China ranked first with 75.4% of imports. From the analysis of export quantity and unit price, China's export of LED lighting products in India has shown a phenomenon of increasing prices. In 2015, the number of LED lighting products exported to India was 85.16 million pieces (pieces/sets), an increase of 94.6% over the same period of 2014. The unit price was US$1.7 per unit (pieces/sets), which was about 23.7% lower than that in 2014. Protection policy is still a big market cake is still very large It is understood that in order to indirectly protect the domestic manufacturing industry, since 2000, the Indian Bureau of Standards is preparing for the certification program to limit the import of LED products. From the end of 2015, when the Indian government mandated the import of certain goods from China or other countries, certain goods for import and export declarations need to pass BIS certification, including LED lighting products and other few electronic products. In addition, the Energy Efficiency Bureau of India (BEE) has also launched an energy efficiency rating. According to the plan launched by BEE in early July, Indian LED manufacturers can voluntarily adopt their energy efficiency label before the end of December 2016. Thereafter, the government will mandate manufacturers to label energy-efficient labels on LED products. In addition to the above protection policies, the Indian government is vigorously supporting local companies. The government procurement case will provide 50% of the local LED-related lighting products manufacturers, and the market share of local manufacturers will increase in the future. To a certain extent, it will reduce the dependence on Chinese LED lighting products. However, India's LED lighting market is in an early stage of growth, and the local supply chain is not complete. For example, LED chips and LED packages are all dependent on the lack of imported mid-stream industry chain. It is difficult to change in a short period of time. Therefore, it is currently for Chinese LED lighting manufacturers. It is still very promising.