Which country imports solar cells and solar modules from India?
Union Minister RK Singh recently shared data related to the imports and exports of solar cells and solar modules from India. The data said that India depends largely on China for imports while it primarily exports its solar modules to the United States (US).
Does India export photovoltaic modules?
The export of Indian photovoltaic (PV) modules has risen exponentially by more than 23 times between Fiscal Year (FY) 2022 and FY2024, primarily to the US, which accounted for more than 97% of India’s exports in both FY2023 and FY2024.
Why did India's solar cell imports decline 57% in fy25?
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.
Is India a net importer or exporter of photovoltaic (PV) products?
India is making significant progress in transitioning from a net importer to a net exporter of photovoltaic (PV) products. In Fiscal Year (FY) 2024, Indian PV manufacturers exported approximately US$2 billion worth of PV modules. The export value of PV modules from India increased by more than 23 times in just two years between FY2022 and FY2024.
How many solar modules did India export in 2022-23?
As per the data, India exported solar modules valued at USD 1031.36 million in 2022-23. Out of this, the total export value for the US alone remained at USD 1000 million, which was close to 97% of the total exports of solar modules from India.
What is the total value of imports of solar cells & solar modules?
As per the details shared by the minister, the total value of imports of solar cells and solar modules stood at $1310 million and $ 94,353 million, respectively. The total value of imports of solar cells and solar modules stood at $ 715,969 million.
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Indian Solar PV Exports Surging 6 In Fiscal Year (FY) 2024, India imported a record US$6.2 billion worth of PV cells and modules from China-based manufacturers.3 Interestingly, in the past few years, India has experienced a significant increase in PV exports, primarily high-efficiency PV modules to the US.
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