New Delhi, January 4 (IANS). India is emerging as a major exporter of solar photovoltaic (PV) cells as other countries look to China as a source of supply to switch to renewable energy to fight climate change.
India exported PV cells assembled into modules or panels worth $711.95 million in the April-October period in fiscal year 2025, of which 96 percent of the shipments went to the US, showing that the world’s largest economy is moving away from China. It is happening.
India also exported photovoltaic cells not assembled into modules worth $25 million in April-October fiscal year 2025, of which 90 percent went to the US.
The US was also a major export market for Indian solar photovoltaic (PV) modules, accounting for over 97 per cent of the country’s solar PV exports in FY2023 and FY2024.
According to a report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research & Analytics, India is making significant progress towards becoming a net exporter of solar photovoltaic (PV) products from a net importer, with the export value expected to reach 100 per cent by FY2022. 23 times to $ 2 billion in FY 2024.
Vibhuti Garg, Director (South Asia), IEEFA, author of the report, said, “Focusing on the US market can benefit the Indian PV manufacturing ecosystem. This will enhance the product quality and competitiveness of Indian PV manufacturers.”
“But, to establish India as a truly global manufacturing hub in the long run, Indian PV manufacturers must focus on upstream backward integration,” he said.
This will help India maintain its penetration in existing markets, while unlocking markets like Europe, Africa, Latin America, etc.”
Additionally, the report also states that PV manufacturers in India will need to focus on balancing domestic availability while meeting the needs of the growing export market.
India’s electronics sector is gaining prominence, with its share in the country’s exports increasing from 3.3 percent in 2014 to 7.9 percent in 2024.
Electronics goods have emerged as the fastest growing segment in India’s export basket as new manufacturing capacities have come up in the country, driven by the success of the Centre’s production-linked incentive (PLI) scheme.
The country’s electronics exports increased by 27.4 per cent to $22.5 billion in April-November 2024-25, compared to $17.66 billion in the same period of 2023-24.
Electronic goods have now reached the third position among the top performers in India’s export sector, up from sixth place last year, second only to engineering products and petroleum.
–IANS
SKT/CBT
