Foraying into the Indian lighting market, the US-based Lighting Science has entered into a manufacturing and distribution partnership with Dixon Technologies for providing a range of LED lighting solutions.
Announcing the exclusive "manufacturing/distribution partnership" here today, Dixon Technologies Chairman and Managing Director Suni Vachani said the company would also be setting up a manufacturing facility entailing an investment of Rs 50 crore.
"The manufacturing plant is expected to come up in six months in Noida. We will be investing around Rs 50 crore for the vertically integrated facility," Vachani told reporters.
The upcoming plant would manufacture products as part of the partnership with Lighting Science, a leading maker of LED lighting solutions.
LED technology is highly energy efficient. Indian LED lighting market is expected to be worth about Rs 2,000 crore by 2015. Last year, the market was worth around Rs 225 crore.
"Our partnership with Lighting Science Group will make LED technology available for large scale implementation in the Indian market and we expect to be the market's leading seller of LED lighting within two years," Vachani said.
Dixon Technologies is a leading Electronics Manufacturing Services provider and is based out of Noida.
Lighting Science Founder and Chief Technology Officer Fred Maxik said India has an unprecedented opportunity to "leapfrog the rest of the world by becoming an early large scale adopter of LED technology".
Noting that their LED lighting offerings would come at affordable prices, Dixon Technologies Deputy Managing Director Atul Lall said Indian market is ripe for these "highly efficient, long lasting and non-toxic products".