Osram Targets Double-Digit Growth in India

Munich-based lighting supplier Osram Licht AG forecasts double-digit sales growth for its operations in India.

Last year the company’s factory in Chennai helped the company hike sales in India 20% to €75 million ($87 million). About 35% of the total comes from the automotive sector. The company expects its overall sales in India will reach €100 million by 2020.

Osram says LED exterior lighting for cars accounts for only 5% of the market today but will expand to 25% by 2020. The company is pursuing other advanced lighting technologies involving organic LEDs and “smart” lighting systems. The supplier’s Opto Semiconductors GmbH unit also is developing sensors for driverless vehicles.

Osram’s Chennai factory makes about half the products offered locally by the company. The balance comes from facilities in Germany and China.

Last year Osram’s global sales totaled €3.8 billion ($4.4 billion). The company forecasts its revenue will reach €5 billion by 2020.