India grows solar imports by 53%, exports by 66% in Apr-Aug 2016

India has imported 53% more solar cells and modules in April-August 2016 compared to the same period a year earlier, and also registered a 66% rise in exports, Mercom Capital Group said last week.

The table below gives more details about the five-month import and export activity of the Indian solar sector.

China is still the single largest exporter of solar cells and modules to India with an 85% share, followed by Malaysia with a 9% share.

Meanwhile, the UK and Italy account for 36% and 11%, respectively, of India’s total solar exports. They are followed by China with 10%.

An official at India’s Ministry of Commerce told Mercom that Indian solar product makers are mostly focused on export markets because this allows them to boost profits. At the same time, local developers prefer to use cheaper modules and cells.

“For Indian manufacturers looking outside, this is the way to earn a profit as scaling up manufacturing to reduce price is a costly affair,” the official has said.

According to Mercom’s India Solar Project Tracker, the country has installed 9.3 GW out of the targeted 100 GW solar power capacity.

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