Union minister of state for power, renewable energy, coal and mines, Piyush Goyal said on Monday that India was fast emerging as the LED capital of the world.
The minister revealed that over 30 crore energy efficient bulbs have already been distributed so far which includes 20 crore LED bulbs by the EESL under the government’s UJALA scheme and more than 10 crores by the private domestic LED companies.
Talking about the huge boost provided in the Budget to domestic LED companies, Goyal mentioned about the customs duties reduction for parts to promote domestic value addition.
Then, he added that the budget has provided for reduction in Basic Customs Duty (BCD) from 10% to 5% for all parts used to manufacture LED luminaries, drivers etc, thereby promoting domestic value addition.
On importing semi-finished inputs for LEDs that includes driver assembly and other such products, a BCD of 5% is levied. This, he said will make the LED products of those manufacturers who assemble the LEDs in India cheaper whereas those who are importing semi-finished products would witness increase in costs
Alongside, the minister appreciated the move that excise duties on all parts used in the manufacture of LED lights or fixtures stands reduced to promote domestic manufacturing.