India's solar cell and module imports decline by 20% and 57% in first eight months of FY25: Report
- IBEF
- March 19, 2025
According to the analytics firm Rubix, India’s solar cell and module imports declined by 20% and 57% in the first eight months of FY25 as the country moves towards self-reliance in solar manufacturing. Imports from China have significantly decreased, with China’s share in India’s total solar cell imports dropping from over 90% in previous years to 56% in FY24, while its share in solar module imports declined to 65% during the same period. The Production-Linked Incentive (PLI) scheme and capacity expansions by TP Solar (Tata Power’s solar arm), Reliance Industries, Waaree Energies, Vikram Solar, Gautam Solar, AdSolar, and Rene have contributed to this decline.
Despite progress, India remains dependent on imports for photovoltaic cells and wafers, as domestic wafer production is yet to be established. Indian manufacturers are increasingly targeting the export market, with solar module exports in FY24 being nearly 35 times higher than solar cell exports. Leading domestic players like Waaree Energies, Adani Solar, and Vikram Solar exported over 50% of their annual production in FY24, while other firms, including Grew Energy, ReNew Power, Navitas, Solex Energy, and Saatvik Energy, are expanding internationally. This shift aligns with India’s COP26 commitment to reach 500 gigawatts (GW) of non-fossil electricity capacity and achieve net-zero emissions by 2070.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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