India’s solar manufacturing boom draws US$16 billion in 18 months

India’s solar manufacturing sector has attracted US$16 billion in investment since the start of 2025, including US$4 billion in the first half of 2026, according to a Rhodium Group report cited by BusinessLine.

India’s manufacturing capacity has grown to 242.7 GW for solar modules and 40.5 GW for cells. Government rules requiring locally made products have helped drive the expansion, while another 40 GW of cell capacity is expected to come up.

But US trade measures pose a challenge. India faces a proposed 123.04% anti-dumping margin and a 107.17% countervailing duty deposit rate. The US International Trade Commission still has to determine whether imports caused material injury to US manufacturers.

Indian solar exports to the US earned about US$1.2 billion last year. BusinessLine reports that manufacturers may now have to depend more on India’s growing domestic market, while some companies are considering production facilities in the US. (Newswire)

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