Chennai, Aug 5 (IANS): Around one billion light/bulb points would be converted into energy efficient LED bulb points in three year's time in India, a top official of Bureau of Energy Efficiency said here on Wednesday.

Queried about the outcome of the Clean Energy Ministerial held in Mexico in May, its director general Ajay Mathur said 23 countries that attended the ministerial agreed to work towards changing 10 billion light points to energy efficient bulbs.

According to Mathur, India has decided to have one billion light points with energy efficient LED bulbs in three years time.

Mathur was here to inaugurate the psychrometric lab set up by Danish group Danfoss.

He said the high number would make manufacturers of LED bulbs increase their capacity and production which in turn would bring down the final prices.

In addition, there will be export opportunities for the Indian LED bulb makers, Mathur said.

Queried about the proposed venture capital fund by Bureau of Energy Efficiency, he said the fund would be operational in a month's time.

He said no project has been given the fund sanction out of the Rs.75 crore corpus.

Mathur said the central government is also expected to contribute towards the corpus.