India’s solar module exports hit $1.97 billion in fiscal 2023-24

Share

India’s solar module exports were 91% up to $1,969.13 million in fiscal 2023-24. USA was the biggest destination with modules shipments to the nation totalling $1,939.92 million (98.5% of India’s total module exports). Exports to South Africa totaled $4.73 million, as per the data published by India’s Ministry of Commerce and Industry.

India’s solar module imports hit $4,353.51 million in fiscal 2023-24, 361% up from $943.52 million in fiscal 2022-23. China’s shipments to India totalled $2,850.74 million, around 66% of India’s total module imports.

Vietnam was the second largest module supplier to India. Its module shipments to India totalled $935.05 million. Malaysia’s shipments to India stood at $237.99 million.

India’s imports of solar cells not assembled in modules or made up into panels were also significantly up. These reached $1,853.05 million is FY 2024, 41% up in value terms compared to $1,310.28 million in FY 2023.

China remained the largest solar cell supplier to the Indian market. PV cell imports from China almost doubled to $1,035.98 million in FY 2024, from $581.45 million in FY 2023.

Malaysia and Thailand were India’s next two biggest sources for solar cells with their shipments to India totaling $311.81 million and $248.75 million, respectively.

 

 

 

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

India reaches 74 GW of solar module capacity
01 April 2025 India’s solar module manufacturing capacity nearly doubled from 38 GW in March 2024 to 74 GW in March 2025. PV cell manufacturing capacity tripled fro...