Outdoor LED lighting market is expected to register a CAGR of over 14%

Asia Pacific is currently experiencing a tremendous shift in lighting systems where companies in these regions have been identified to adopt LED lights in industries and manufacturing plants compared to its counterparts, like incandescent, and LFL owing to the improved efficiency of LED lighting systems.

In India, the government has circulated a series of policies from all the perspectives to support the industry's development, among which the most important is SLNP (Street Light National Programme) to replace 21 million streetlights with LED.

Additionally, to help the various investments enter India, the government had implemented the free tariff (basic tariff) of LED component imports, facilitating the LED products into an assembly in India as semi-finished products and developing the local market.