A recent report by Mercom Capital indicates that the export of solar cells and modules grew 65. 5 million during this period. Department of Energy (DOE), prepared this report. By law, our data, analyses, and forecasts are independent of approval by any other officer or employee of the U. The views in this. . nd FY2024, primarily to the US. Going forward, the country should continue to leverage its advantageous position in the US market to help its domestic manufacturers attain economies of scale, and improve their prod ct quality and competitiveness. Domestic manufacturers, meanwhile, should focus on. . 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. With the expiration of the Free Trade Agreement and an ongoing. . While the US remains a key market, rising tariffs are impacting competitiveness, prompting a shift towards balancing exports with domestic demand. 5 million, with Gujarat contributing significantly to. . 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. It notes that this shift positions India as a credible alternative supplier in the global solar value chain Updated - December 30, 2025 at 04:55 PM.
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