Author: PPD Team Date: 13/02/2025
India’s solar photovoltaic (PV) module exports have seen significant growth, reaching $1.97 billion in fiscal 2023-24, up from $83 million in fiscal 2021-22. From April to November 2024, exports totalled approximately $782 million, as reported by the Minister of State for New & Renewable Energy, Shripad Yesso Naik, in parliament.
The United States remains the largest destination for India’s solar PV modules, with its share of U.S. imports rising from 2.2% in 2021 to 9% in 2023. While China leads global PV module exports, countries like Vietnam, Thailand, Malaysia, and Cambodia account for over 75% of U.S. solar PV imports.
India’s exports to the United States amounted to $1.94 billion in fiscal 2023-24, with $756.08 million exported from April to November 2024. Additionally, solar cells worth $54.67 million were exported in fiscal 2023-24, with shipments to the U.S. totalling $32.77 million.
Government policies such as the production-linked incentive (PLI) scheme, domestic content requirements, and import duties on PV cells and modules are strengthening India’s domestic manufacturing sector and improving its competitiveness in the global market. With continued government support and rising global demand, India’s solar PV exports are set to expand further, as reported by pv-magazine-india.com.
