India aims for second largest solar module producer by 2025

22 Nov 2023 CW Team

By 2025, India is poised to become the world's second-largest producer of solar modules, outpacing Southeast Asia and focusing primarily on meeting the demand in the United States, according to a report by Wood Mackenzie. This development occurs against the backdrop of China's anticipated dominance, holding over 80% of the global capacity for the solar module supply chain starting in 2024.

The report highlights India's strategic plan to boost module exports to the lucrative US market. However, the country faces hurdles in the form of high production costs, attributed to a 25% basic customs duty on imported solar cells. There is speculation that the Indian government may consider reducing the duty on Chinese modules, currently subject to a 40% tax, to support its export ambitions.

Conversely, the United States, propelled by the Inflation Reduction Act, is actively developing its photovoltaic manufacturing capabilities. Yet, the absence of domestic production for wafers, cells, or glass implies continued reliance on imports, particularly after the expiration of President Biden's temporary waiver on solar import tariffs in mid-2024.

In parallel, Southeast Asia's solar capacity, largely influenced by Chinese investments, and Europe's advocacy for protective tariffs on Chinese modules due to non-competitive prices underscore significant shifts in the global solar module supply chain.

The report also delves into China's dominance in N-type cell technology, constituting 95% of the announced global expansions in this field, and anticipates its consequential impact on the market. Despite challenges leading to tightened profit margins in the sector, the report suggests that vertically integrated manufacturers may still discover growth opportunities.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..