- The report “Indian Solar PV Exports Surging” by IEEFA summarises that India’s exports of solar photovoltaic (PV) products have surged by more than 23 times between FY 2022 and FY2024, primarily to the US. Going forward, the country should continue to leverage its advantageous position in the US market to help its domestic manufacturers attain economies of scale, and improve their product quality and competitiveness.
- Domestic manufacturers, meanwhile, should focus on upstream backward integration to enable India to access untapped markets like Europe, Africa and Latin America. At the same time, balancing the demand of the export and domestic markets is also crucial. Ensuring domestic supply for smaller order sizes, such as for residential rooftop solar, is also important to ensure local energy transition initiatives are not affected.
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