India’s solar market is one of the fastest growing markets in the world, offering an average potential of at least INR 35,000 crores (~ USD 5.4 billion*) per annum for solar modules over the next 5 years.
India’s domestic solar PV manufacturing industry, however, has not been able to tap into this market on account of its inability to compete with imported products. As a result, India is largely reliant on imports to meet its growing domestic demand and this trend is likely to continue unless domestic capacity is ramped up with suitable policy support. This report therefore aims to identify the main issues and challenges faced by India’s solar PV manufacturing industry and provide a specific set of policy recommendations for boosting solar PV manufacturing in the country.
