The LED lighting market is expected to get a major boost with the growth of electric vehicles by 2020 and one company, which intends to reap early benefits and further strengthen its dominance as a result of this, is Lumax Industries. Auto Tech Review spoke to Deepak Jain, Managing Director, Lumax Industries, to understand the nuances of this fast-evolving technology and how the Indian automobile industry will see a paradigm shift in the years to come.
With over 21 years of experience, Deepak Jain currently serves as the Managing Director of Lumax Industries. He is a business graduate from Illinois Institute of Technology, USA with specialisation in Operations Management & International Business. He has undergone extensive training at Stanley Co Limited, USA & Stanley Electric Co Limited, Japan. He currently holds the position of Chairman of ACMA’s Northern Region. Earlier, he was the chairman of ACMA’s HR/IR & Skill Development Committee, as well as the past chairman of ACMA’s Sustainable Technology Development Committee. He also served as the National Coordinator of Young Business Leader Forum of ACMA and is the past President of Supplier’s Club, Honda Cars India Limited. He is a member of the Young President Organisation and Entrepreneurs’ Organisation and the Vice President of Toyota Kirloskar Supplier’s Association.
ATR _ Could you brief us about the current automotive lighting market in India? DEEPAK JAIN _ The Indian automotive industry is likely to grow phenomenally in the coming few years. In the last decade, we have grown immensely due to several factors that include rise in disposable incomes and lower manufacturing costs. If we have a close look at the current industry trends, the sales of passenger and commercial vehicles accelerated in November, which is a good sign for this fiscal. The industry is likely to grow by 8-10 % for the entire fiscal year and should be its best performance in the last six years. India’s automobile industry grew by 6.81 % in 2016-17, 3.78 % in 2015-16, 7.06 % in 2014-15, 3.54 % in 2013-14 and 2.49 % in 2012-13. This is directly linked to the demand of lighting solutions from the customers.
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