Techmezine interacted with Anuj Goel, Director ,SR Electro about the LED market in India.
Techmezine: Tell us about your company?
SR ELECTRO- Basically sr electro was a just a thought of providing best LEDs at best price to Indian manufactures before 2015 and the thought formed as a company in 2015 with a single LED brand, which was MLS. Gradually SR ELECTRO got associated with to top notch lighting brands in the market and by 2017 we became well known led distributor in India. After that we started getting into other electronic components for white goods, automotive and industrial segments with some other business associations with brands like samwha, maxic, crescent seoul semiconductors etc. and now in 2021 we have 14 top brands as our principle supplier.
Techmezine: Can you please share more details about Post Covid Impact on the Electronics market?
SR ELECTRO- Since, the covid has been a curse for whole world, all the industries were affected with it so the electronics. However, the major market share in the global consumer electronics market is upheld by Asia (especially China) so the consequences were well expected. I believe all the industries around are integrated with electronics and derived by human interventions, and humans were locked in homes which held the demand, which held the production and supply. If we specifically talk about the electronics industry, yes, it was affected badly.
The electronics industry is no exception and has faced the turbulence in equal measure. The one silver lining has been the growing applications and scope of electronics technology which is expanding its potential markets. Work from Home, wireless technologies, IoT, Artificial Intelligence, massive growth in Data Storage, medical electronics, all are adding to the opportunities for electronics sector. Electronics permeates all sectors of the economy, from mobile phones to ISRO’s satellites making it not only important economically but also of great strategic significance.
Techmezine: Mention a few SR Electro offerings in the LED ?
SR ELECTRO- We do have a huge range of lighting and electronic components from various brands like MLS, Seoul Semiconductor, Crescent, Xuancai, Samwha, Maxic, Royalohm, SP Micro and many more. We are the authorised distributor of all of them and known for the trusted and genuine supplies in the industry. Then we do led driver kitting for all lighting products which all are developed and tested by our highly experienced engineers in our world class R&D lab which is equipped with latest technology. We also sell IC for led and industrial grades.
Techmezine: How do you see the future and prospects of the LED market in India?
SR ELECTRO- It’s growing to grow at a rapid pace as domestic requirements are fuelling upwards. As more and more people are working from home so more of residential demands for more brightness and affordable lighting which can be provided by led. Also, our festival Diwali is approaching so that is increasing the demand for decorative lights which is going to increase demand for led and also Government is also promoting led more due to its availability and affordability.
Yes, shortage of semiconductor will sort of create hurdles in the market to grow.
Techmezine: Can you highlight your current growth rate and future predictions Of India?
SR ELECTRO- We had a normal growth last fiscal due to the pandemic and did what we had done in 2019. This year we are expecting to cross our 2019 & 2020 targets by at least 25% more or so. As the innovations in the industry and electronic products are approaching the market every day, which is making us more confident about targeted growth this year, due to our regular upgrades in inventory and products availability. India’s lighting industry is expected to grow at 30%CAGR and there is more demand for Make in India products and the slow supplies from other countries are providing an opportunity to Indian manufactures to inhance the production capacity and cover the supply demand gap. Which is going to play a pivotal role in the growth in the industry and for building customers trust in make in products.