India’s import of solar cells, modules dips in Q2
India imported solar cells and modules worth over $774.9 million (~64.6 billion) in the second quarter (Q2) of the calendar year 2024, down 16.4% year-over-year (YOY), according to data from the Department of Commerce. Solar modules accounted for 55% of the quarter’s imports, and solar cells 45%. In a quarter-over-quarter (QoQ) comparison, solar module and cell imports dropped by 61.4% from over $2 billion (-2166.9 billion).
Solar module imports saw a sharp decline of 73.2%, while solar cell imports fell by 17%. This decrease in imports was largely due to the reimposition of the Approved List of Models and Manufacturers (ALMM) order on April 1, 2024, prompting developers to source ALMM-authorized modules domestically. In Q2 2024, 67.8% of the solar imports were from China, followed by 23.9% from Vietnam. Thailand, Cambodia, and Singapore accounted for 5.7%, 1.0%, and 0.8%, respectively, as per a report.
source: Exim News Service: New Delhi, Oct. 17