This year's exhibitors from Taiwan manufacturers, including the manufacture of sales LED bulbs, light and optical lenses, such as the 0 components of the optoelectronic, Rade gram optics, and provide power system solutions, such as the Ming-weft enterprises, into the Indian market has been 8 years to 10, and the 3 manufacturers have also participated in India LED Expo last year.
India's LED lighting market is still in its infancy, with international manufacturers bullish on India, Philips Lighting and Osram setting up factories in India as a global market production base.
According to the Ledinside report, the 2016 Indian LED lighting market was $1.14 billion, with an annual growth rate of 47.1%, estimated to climb to $1.715 billion in 2020.
India's prime minister, Modi, also proposed a "smart city Plan" in 2016, which is expected to build 30 million street lamps in all of India in 2 years, including replacing old and new street lamps. LED factory billion light recently successfully won the South India Street Lamp Standard case, the next year will ship 10 tens of thousands of lamps.
The new tax system on the Indian Goods and Services Tax (GST) was on the road in July this year, with a uniform tax rate of 5%, 12%, 18%, 28% and 4 different rates, eliminating the fact that there are different exchange rates across provinces. But affected by GST, this year led market growth slowed.
Many foreign businessmen, including Taiwanese firms, are still groping for a new tax regime, and in the short term, market prices will be affected by the new tax regime. However, the Hou Jianye accounting firm (KPMG) has assessed that the GST is a long-term benefit for Taiwanese companies to enter the Indian market and more flexible prices.