India's Solar Sector Surges: 60 GW Domestic Manufacturing Capacity Achieved

India's solar industry has reached a significant milestone, with domestic manufacturing capacity for solar PV modules hitting 60 GW by March 2024. This achievement, reported by Rubix Data Sciences, marks a substantial increase from just 2 GW a decade ago. The growth is attributed to government initiatives like the Production Linked Incentive (PLI) scheme and the Approved List of Models and Manufacturers (ALMM) policy. Major players such as TP Solar, Reliance Industries, and Adani Solar are expanding their capacities, driving the sector forward. India's solar cell manufacturing capacity is projected to increase fivefold, reaching 50-55 GW by FY2027. The country is on track to become a net exporter of solar modules by FY2029, with module manufacturing capacity expected to reach 125 GW. This expansion not only strengthens India's energy security but also positions it as a key player in the global solar industry.

 

Source: Rubix Data Sciences Industry Insights Report, March 2025