According to leading industry player Surya Roshni, the market size of Indian LED industry may touch Rs 21600 crore by 2020 on the back of government's decision to switch to LED for all street lamps and public space lighting. The turnover of Indian lighting industry by 2020 is expected to be Rs 35,000 crore and LED may account for Rs 21,600 crore, which is significantly over 60% of this total turnover.

Government initiatives, aggressive marketing to create awareness and major advertisement campaigns regarding benefits of using LED lighting, will contribute to demand creation in this segment. With increased construction activity and refurbishments, LED fixtures are also expected to emerge as a key growth area for the lighting and fixtures segment. LEDs are poised to replace the traditional sources of lighting and, hence, will be at the core of growth strategy for lightning industry. Streetlight and outdoor applications will generate majority of the market revenues in the overall market. Railways, industrial, automotive and indoor applications are emerging as other key growing applications in the country. Streetlight application leads in India's LED lighting market owing to the initiatives taken by various state governments to deploy LED based streetlights. Overall industry, which is presently in nascent stage, will grow with coming years. India has undertaken the world's largest LED-based lighting program, which aims to replace 770 million incandescent bulbs and 35 million streetlights over a three-year period. These schemes have been largely successful, recording energy savings of 109,000 GWh while reducing 85 million tonnes of CO2