The Indian arm of Lyte Master, a German LED Manufacturer, plans to invest INR 150 million (US $2.50 million) to establish a LED light factory in Chennai, India, according to a Business Standard report.

The new manufacturing facility is estimated to have a production capacity of 50,000 units per month for each product.

Lyte Master India Chairman James Palamuttem said the new plant will be mainly manufacture LED-based ultra slim panel lights, tube lights, high bay lights, and streetlights. During the first year, products manufactured from the plant will be sold to Southern states in India including Tamil Nadu, kerala and Karnatake before expanding to Maharashtra and Andhra Pradesh.

 "We are expecting a turnover of INR 500 million this year and another INR 2 billion during the year ending March, 2016. The Indian LED light market is currently around US $20 million," he said.