Companies like LG, Dixon and Super Plastronics also indicated that they will expand their investment for manufacturing capacity and add newer categories for production.
India imports finished open cell panels, which are used in making the LED panels, since there is no panel manufacturing facility in the country.
The company currently employs 10,000 engineers.
The announcement has come just ahead of the festive season sales and would positively impact the sales of LED TV panels.
The move would also help to reduce the price of TV panel by around three per cent.
The open cell LED TV panel is the most critical component used in LED TV manufacturing accounting for 65-70% of the total production cost.
The Videocon resolution process has been going on for 427 days, and the tax authorities are seeking a quick redressal.
The company, which is part of the Hero Group, has launched a voice-controlled smart indoor camera and smart sensors (for doors, gas leakage and smoke) under the 'Qubo' brand.
Refurbished smartphone sellers expect market to grow 25% in FY20
This is the first time that the ministry and DPIIT have pushed for a reduction in GST on these products.
Analysts, however, predicted a tough year ahead for the company in India with Chinese brands like OnePlus and Xiaomi ready to enter the premium television segment.
The meeting comes at a time when India has set its sight on creating a USD 400 billion (around Rs 28.43 lakh crore) electronic manufacturing ecosystem by 2025.
Voltas has partnered with group firm Tata Power to promote energy efficient ACs. Under this, Tata Power consumers in the city can exchange their ACs for Voltas' 5- star-rated inverter split ACs.
As part of the deal, Singh will also participate in a series of marketing initiatives to strengthen JBL's dominance in the country.
"Online business has seen triple-digit growth as we speak, and this will only grow as we enter the festive season," Asim Warsi said.
Company to focus on 4K sets and bigger TVs amid stiff competition in 32-inch space.
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