Summary:

According to a CRISIL analysis, India is expected to become a major participant in the global solar module industry by 2029, with plans to export solar modules to other countries. Domestic output is projected to increase due to a skilled labor force, a thriving industrial ecosystem, and an abundance of raw materials. Government measures supporting the solar sector are crucial, with production capacity estimated to reach 125 GW by FY29, resulting in a surplus for exports against local demand of 38-42 GW.

The report emphasizes the increasing global demand for solar energy, particularly in developing nations, which presents opportunities for Indian producers. The Indian government provides various incentives to encourage exports, easing access to high-demand areas with low import tariffs. However, Indian producers face competition from established companies such as China and must contend with high import duties in some cases. Despite these challenges, India's industrial expansion, aided by government initiatives, has positioned it as a global leader in the solar sector.

Source: IBEF 

Disclaimer: The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.