India's solar equipment imports could reach $30 billion annually by 2030, report says
Summary: India's goal of reaching 500 GW of renewable energy by 2030 may lead to solar equipment imports rising to $30 billion annually, according to a report by the Global Trade Research Initiative (GTRI). This increase could heighten reliance on Chinese imports.
Currently, India imports about $7 billion worth of solar equipment, with China supplying over 62% of it. The report highlights the need for India to develop local manufacturing capabilities, particularly in polysilicon and solar module production, to reduce costs and dependency.
GTRI suggests that India should invest in building a complete solar supply chain, from raw materials to finished products. It also recommends expanding existing initiatives to support early-stage solar manufacturing and creating a skilled workforce for the industry.
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