From pv magazine India
India’s module manufacturing capacity has expanded from about 72 GW in March 2024 to nearly 118 GW by July 2025, while cell capacity has grown from 8 GW to about 27 GW. Wafer manufacturing remains limited at 2 GW, though several Indian firms plan expansions exceeding 30 GW, representing investments of more than INR 240 billion ($2.9 billion).
CareEdge said the capacity buildout reflects accelerating installations, policy support, and greater access to finance. Current output capacity is estimated at 50 GW to 60 GW for modules and 8 GW to 10 GW for cells, leaving a cell import dependency of 40 GW to 45 GW. Most imports originate from China.
To reduce this reliance, India has introduced measures such as the Approved List of Models and Manufacturers (ALMM), which requires use of domestic modules for certain projects, and upcoming ALCM/ALMM rules for cells to promote local production.
“Planned module capacity of over 215 GW to 220 GW by fiscal 2028 is expected to entail investments of more than INR 140 billion rupees, with an estimated 25% to 30% of panels likely to be exported,” said Tanvi Shah, senior director at Care Analytics and Advisory.
“The domestic cell manufacturing capacity is expected to reach around 100 GW, supported by cumulative capital expenditure exceeding INR 550 billion,” said Nitu Singh, associate director at Care Analytics and Advisory.
CareEdge said India’s solar exports will increasingly drive growth as output surpasses domestic demand. Exports have risen sharply from INR 8.7 billion in fiscal 2019 to INR 94.6 billion in fiscal 2025, peaking in fiscal 2023–2024 when shipments briefly exceeded imports. Much of that growth came from US buyers diversifying supply away from China.
Exports declined in fiscal 2025 after tighter scrutiny under the Uyghur Forced Labour Prevention Act, but rebounded in early fiscal 2026 as developers accelerated shipments ahead of tariff deadlines. Imports fell 54% during the same period, signaling progress toward solar manufacturing self-sufficiency.
In value terms, exports to the United States rose by INR 11.04 billion in the first four months of fiscal 2026, while shipments to Kenya surged 55-fold year on year.
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