The export of the PV module of India has grown steadily in recent years. The nation exported around $ 83 million in modules in tax 2021-22, rose to $ 1.97 billion in tax 2023-24.
From April to November 2024, exports reached around $ 782 million, Minister of Foreign Affairs told new and renewable energy Shripad Yesso Naik to the parliament.
The American market remains the top destination for the PV modules of India, with its share in American imports rising from 2.2% in 2021 to 9% in 2023. While China leads the worldwide export of PV module, Vietnam, Thailand, Malaysia and Cambodia represent more than 75 % of the American import of solar energy, Naik said, referring to a report from the Institute for Energy Economics and Financial Analysis and JMK Research.
The India module to the United States was a total of $ 1.94 billion in tax 2023-24 and $ 756.08 million from April to November 2024.
Naik said that the government policy-included the production-linked incentive (PLI) schedule, domestic content requirements, purchasing preferences for locally made modules and import tasks on PV cells and modules are aimed at strengthening domestic manufacturers and their competitiveness against other export countries .
India also exported solar cells worth $ 54.67 million in tax 2023-24 and $ 27.32 million from April to November 2024, with shipments to the American market of $ 32.77 million and $ 25.09 million respectively.
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