Indian exports of solar modules and cells rose 116% during April-July 2016 and touched $41 million. During that same period India imported modules and cells worth $580 million, up 52 % compared to the same four-month period (April-July) of 2015.China is the single largest exporter of solar modules and cells to India, accounting for 82% of India’s total solar imports. Malaysia is the second largest exporter to India, accounting for a 12% share of India’s overall imports.
“Currently, United States accounts for only 1% of India’s total solar imports and it remains to be seen if imports from U.S. will increase after the recent ruling from the World Trade Organization (WTO) is enforced, which found India’s domestic content requirement discriminatory against U.S. manufacturers,” said Priyadarshini Sanjay, managing director Mercom Communications India.
The United Kingdom imported the largest amount of Indian solar modules and cells, accounting for 34.1% of India’s total solar export. Italy accounts for 11.4% of India’s solar exports and is closely followed by China with 10.7%.According to Mercom’s India Solar Project Tracker, cumulative installations in India at present stands at 8.6 GW.“In order to reach the goal of installing 100 GW by 2022, developers will have to continue importing cheaper cells and modules to be able to compete in hypercompetitive auctions and build projects that yield decent returns,” said Raj Prabhu, CEO of Mercom Capital Group.