The U.S.-based LED technology developer, Neo Lights Holdings, has aimed to set up its manufacturing facilities in India and announced that the company is in discussion with several Indian producers to determine the optimized approaches of collaboration.
To transform itself into a global manufacturing hub, India has launched the Make-In-India Program in 2014 which encourages international and domestic companies to increase investment and production in India. Based on the policy, Neo Lights Holdings has focused on India and plans to build relationships with Indian manufacturing companies.
In May of 2018, Neo Lights Holdings acquired Simkar Corporation, a lighting product producer based in Philadelphia. According to Neo Light Holdings, Simkar's world-class large scale manufacturing capabilities will enable the company to deliver its new technology quickly to an eager marketplace.
(Image: Neo Lights Holdings)
Most of the LED lighting products in the U.S. market were made in China. However, the recent escalating tension between the two countries and the imposed tariffs from the U.S. government have impacted the market and the price of Chinese products. Therefore, establishing a partnership with Indian companies and moving the manufacturing capacities to India may be a good strategy for U.S. lighting companies.