Key Market Indicators
Indian lighting exports are projected to climb to approximately $38.7 million by 2028, up from around $32.4 million in 2023. This marks an average annual growth rate of 2.8%. The Indian supply of lighting products has seen a steady increase of 4.2% year over year since 1993. Meanwhile, Indian lighting imports are expected to surge to about $619.2 million by 2028, rising from $491.7 million in 2023. The compound annual growth rate (CAGR) for imports stands at 3.6%. Since 1993, the demand for lighting products in India has grown at an average annual rate of 4.8%.
