India is expected to install 28.3 gigawatts (GW) of solar photovoltaic (PV) capacity during the 2025–26 fiscal year (FY26), according to a forecast from energy consultancy JMK Research.The report, titled Annual India Solar Report Card – FY2025, projects that from April 2025 to March 2026, the country will add 21.15GW of utility-scale solar and 7.15GW of rooftop solar. This marks a significant increase of 6GW compared to FY25, during which 17.4GW of utility-scale and 5.2GW of rooftop solar were added.In just the first quarter of calendar year 2025 (part of FY25), India commissioned 7.8GW of new solar PV installations.Leading States and Project PipelineAs of March 2025, India had 85.5GW of installed utility-scale solar PV, with an additional 68.2GW in the development pipeline.Among Indian states:Rajasthan leads with 26.9GW already installed—more than Gujarat and Karnataka combined.Gujarat has 12.8GW, while Karnataka follows with 10.6GW.When future pipeline capacity is considered, Rajasthan still leads, boasting 19.1GW in upcoming projects. However, the Interstate Transmission System (ISTS) contributes the most significant portion to the national pipeline with 27.9GW, allowing power generated in one state to be used in another.Module and Inverter Market TrendsIndian manufacturer Waaree topped the solar module market in FY25 with a 13.9 per cent share. Despite India’s basic customs duty (BCD) on imported solar cells and modules since April 2022, three Chinese firms—JinkoSolar, LONGi, and Trinasolar—ranked among the top five suppliers.On the manufacturing side, Indian companies continue to expand capacity. Premier Energies recently commissioned 1.2GW of new annual TOPCon cell production at its Telangana plant.In exports, First Solar, a US-based thin-film CdTe module maker, led with nearly 2GW of modules shipped abroad in FY25—representing 66.7 per cent of its Indian output. It was followed by Adani (over 1GW, 33%) and Waaree (500MW, 6.9%).Inverter Market DynamicsIn the inverter segment:14 Chinese firm Sungrow led FY25 with a 37.6 per cent market share across central and string inverters.15 Sineng and TBEA followed with 15.7 per cent and 12.6 per cent shares, respectively.16 TBEA dominated string inverter supply with 23.4 per cent market share, while Sungrow led in central inverters.