India floods world with solar, but relies on China
A new report released on Monday indicates that solar power installations across the nation are set to reach approximately 216 gigawatts by the fiscal year 2028, producing 305 billion units of electricity. CareEdge Advisory, an arm of CareEdge Ratings, attributes this expansion to robust participation in the Production Linked Incentive program, which has accelerated manufacturing growth. The advisory notes that efficiency improvements allow developers to install between 1,700 and 2,200 panels rated at 500 watts peak for each megawatt of generating capacity.
Solar installations have climbed to 127.3 gigawatts as of September 2025, a dramatic rise from just 3.9 gigawatts a decade earlier. The sector accounts for roughly one-quarter of all power generation infrastructure. Exports of photovoltaic products have multiplied more than tenfold since fiscal 2019, with the United States serving as the primary destination. Government policies such as basic customs duties and approved manufacturer lists have helped domestic module production capacity grow to 100 gigawatts, ranking fourth globally.
Manufacturing capacity for modules and cells is projected to double by fiscal 2028, requiring capital investments exceeding 55,000 crore rupees. However, the advisory cautions that dependence on Chinese supply chains and slow renewable infrastructure development pose medium-term challenges.
