Data released by the Ministry of New and Renewable Energy showed that India’s domestic solar manufacturing sector witnessed substantial growth over the past year. Solar module manufacturing capacity nearly doubled from 38 gigawatts in March 2024 to 74 gigawatts in March 2025. During the same period, solar cell manufacturing capacity increased sharply from 9 gigawatts to 25 gigawatts, reflecting accelerated investment in the renewable energy supply chain.
Despite this rapid growth, the Morgan Stanley report highlighted India’s continued dependence on imports for key upstream solar components. During the financial year 2025, India imported nearly 35 million solar modules valued at approximately 1.6 billion US dollars. The report estimated that nearly 60 to 80 per cent of these imports originated from China, underlining the country’s vulnerability in critical segments of the renewable energy ecosystem.
India’s broader clean energy expansion has also crossed a major threshold. Non-fossil fuel sources now account for more than 50 per cent of the country’s total installed power generation capacity, which has reached 262.7 gigawatts. Solar and wind energy projects contributed the majority of recent capacity additions, reinforcing the country’s aggressive transition toward cleaner and more sustainable energy systems.
The report underlined that while India has made significant progress in expanding renewable energy capacity and strengthening domestic manufacturing, achieving greater self-reliance in upstream solar production will remain crucial for long-term energy security, reduced import dependence, and sustained industrial growth.
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