Lighting South Asia


Market Facts

INDIA – ECONOMIC & INDUSTRY FACTS

  • World’s no.2 emerging economy
  • Stable 9% GDP growth rate
  • The Indian Lighting Industry is over $ 1 Billion and it is expected to exceed the present 12% per annum growth in the years ahead
  • The government is committed to the upgrading of lighting installation since this is directly linked to energy and efficiently issues
  • India with its 1.2bn population has the world’s fastest growing business/consumer sector of over 250 million people (projected until 2010 – McKinsey)
  • Relaxed foreign investment regulations, government initiatives encouraging & aiding exports and English being the language of India, the market has opened up like never before.
FACTS & FIGURES
  • India is presently importing lighting products for over $250 million
  • Import Growth Rate - 25% - 30% per annum
  • The reduction in import duty is finally enabling international products to compete and sell on the same counter as domestic products
  • Current middle class population – 300 million
  • Forecast middle class population – 580 million (In 2025)
The areas of interest in India presently are energy saving products and systems, solar related lighting products, high-end design oriented luminaries for commercial offices, hotels and malls. With the Commonwealth Games in 2010 the requirement for the lighting technology and products are going to experience an exponential growth. With the world following the LED route can India be far behind? At the last Light India International Exhibition, LEDs held a centre stage as a star attraction. We expect that with falling price and improvements in the quality of LEDs India will be a big market for LED related products.
India was once known as a price conscious market; this is no longer true because with the developing economy and substantial improvement in per capita income Indian buyers are becoming very selective in the products they purchase and the pyramid of price vs. value is moving closer to what exists in Europe and America. In fact some of the world’s leading architects and consultants are presently involved in lighting projects all over India.