Indias solar module exports hit $782 million in April-November 2024
From pv magazine India
India’s PV module exports have grown steadily in recent years. The nation exported around $83 million worth of modules in fiscal 2021-22, rising to $1.97 billion in fiscal 2023-24.
From April to November 2024, exports reached approximately $782 million, Minister of State for New and Renewable Energy Shripad Yesso Naik told parliament.
The US market remains the top destination for India’s PV modules, with its share of US imports rising from 2.2% in 2021 to 9% in 2023. While China leads global PV module exports, Vietnam, Thailand, Malaysia, and Cambodia account for over 75% of US solar imports, Naik said, citing a report by the Institute for Energy Economics and Financial Analysis and JMK Research.
India’s module exports to the United States totaled $1.94 billion in fiscal 2023-24 and $756.08 million from April to November 2024.
Naik said government policies – including the production-linked incentive (PLI) scheme, domestic content requirements, procurement preferences for locally made modules, and import duties on PV cells and modules – aim to strengthen domestic manufacturers and enhance their competitiveness against other exporting nations.
India also exported solar cells worth $54.67 million in fiscal 2023-24 and $27.32 million from April to November 2024, with shipments to the US market totaling $32.77 million and $25.09 million, respectively.
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