India, Nov. 4 -- India could transform its solar manufacturing industry into a globally competitive, fully integrated manufacturing powerhouse by 2047, creating 32.3 lakh direct and indirect jobs and attracting $89 billion in investments, according to the Indian Solar Manufacturers Association (ISMA).

In a statement issued on Tuesday, the industry body said India needs to move beyond solar module assembly and develop manufacturing capabilities across the entire solar photovoltaic (PV) value chain, covering polysilicon, ingots, wafers, cells and modules.

Such an integrated manufacturing ecosystem could enable India to retain a larger share of the value generated by domestically manufactured solar panels while strengthening its position ...