New Delhi, Aug. 21 -- India's solar module manufacturing capacity has expanded dramatically to 100 GW over the past two years, driven by government initiatives including the Production Linked Incentive (PLI) scheme and the Approved List of Models and Manufacturers (ALMM) framework, according to a recent SBI Capital Markets report.
The domestic manufacturing surge has coincided with strong market demand, as solar installations in the last fiscal year (FY25) increased by 60 percent to 24 GW, requiring an estimated 50 GWdc of modules to meet project requirements.
However, the rapid capacity expansion is generating concerns about potential market oversupply. With annual solar additions projected to stabilise between 40-50 GW, the anticipate...
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