India can save up to $7 billion (about Rs43,750 crore) annually by replacing incandescent lamps with energy efficient lED bulbs, Power Minister Piyush Goyal said on Friday. “We have set challenging targets to save energy as energy conservation has an equally important role to play with generation. We are looking at savings of nearly 100 billion units of power, by the use of lED lights, translating into USD 7 billion annually,” he said at ‘Urja Sangam’ here today. Goyal, who also holds the charge of Coal and New and Renewable Energy departments, said that use of lED bulbs will reduce peak power demand of the country by 10,000 MW per day.