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Date: 13/11/2024

Export of PV products soars 23 times

India’s solar photovoltaic (PV) product exports soared 23 times between FY22 and FY24, when they touched $2 billion, and continue to grow at a scorching pace. The trend signals that the country is poised to be a net exporter of these products, even as it is eyeing big targets for solar capacity addition. These products are meant to be in great demand locally. The US has emerged as a key market for Indian solar PV products, accounting for 97% of shipments in both FY23 and FY24. But the short-term focus on exports while leaving the domestic market high and dry also may have some benefits. Exposure to the US market will enable Indian PV manufacturers to attain economies of scale, ultimately enhancing their product quality and competitiveness, as per a report.
 
Source: Exim News Service: New Delhi, Nov. 12



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