Mumbai India downgrades PV module exports
“Module exports from Indian manufacturers declined this quarter due to the imposition of a 50 per cent tariff by the US. In Q3 2025, around 883 megawatt (MW) of modules were exported by 7 key players,” JMK Research & Analytics said. . The tariffs imposed by the US, which accounted for almost all of India's solar PV module exports in 2024, is impacting competitiveness of the domestic manufacturing sector with outbound shipments declining for the first time in Q3 2025 after rising for four consecutive quarters. 5 billion in 2024 due to shipment scrutiny and concerns over Chinese components. 5% of exports in Q4 2024, up. . of photovoltaic (PV) products. The export value of PV modules from India increased by more than 23 times in just two y PV exports from India FY 2022. Earlier in 2025. . India's solar modules captured 97% of its exports to US (2023-25), up 9x in '23 & 2x in '24, as 19-21% cheaper alternative to US-made amid China curbs. Share rose to 11% vs Vietnam's 36%; US added 50GW capacity. But 50% tariff hits Aug 2025 over dumping, Russia oil. [PDF Version]FAQS about Mumbai India downgrades PV module exports
Why are India's solar PV module exports declining?
Exports from Indian manufacturers have declined in recent quarters due to imposition of the Approved List of Models and Manufacturers (ALMM),” JMK Research & Analytics added. The US is India's main export destination accounting for 97 per cent and 99 per cent of the latter's solar PV module exports in FY23 and FY24, respectively.
Is India emerging as a major solar PV manufacturing & exporting hub?
The International Renewable Energy Agency (IRENA) in its latest report notes that India is emerging as a major solar PV manufacturing and exporting hub, with domestic solar module manufacturing capacity growing from less than 5 GW in 2018 to more than 68 GW in 2024.
Does India export photovoltaic modules?
The export of Indian photovoltaic (PV) modules has risen exponentially by more than 23 times between Fiscal Year (FY) 2022 and FY2024, primarily to the US, which accounted for more than 97% of India's exports in both FY2023 and FY2024.
Does India have a demand for PV modules?
ing PV components domestically.However, this rapid expansion in exports also aises important considerations. With India's increasing PV module production being directed towards foreign markets, there are concerns about meeting domestic demand and achieving the country's ambitio
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