NEW DELHI: The US-based LED bulbs maker Lighting Science Group, has announced its plans to enter the Indian market by September this year. The company is targeting 20 per cent market share over three years.
In the same move, the company has approached and is in talks with three to four Indian LED manufacturers in oredr to float an Indian joint venture (JV). As per sources, in the would-be JV, The US-based group will hold a majority stake which is to be named as Lighting Science India.
Presently, the Indian market is estimated at $40 million (about 180 crore) and is expected to grow to $400 million (Rs 1,800 crore) by 2014.
The Group is also planning to initiate talks with state governments, local authorities, real estate developers and industrial units for supply of products.