India’s solar export market is experiencing a dynamic phase of growth, with the value of exports surging by an impressive 65.2% year-over-year in the third quarter of 2025, reaching over $344.5 million. In terms of volume, exports hit 7.6 gigawatts (GW), a significant increase from the 4.6 GW shipped in the previous quarter. This expansion is largely fueled by robust demand from key international partners, particularly the U.S. and European markets, according to a report by JMK Research.
Key Export Markets and Manufacturers for India solar exports
The United States continues to be the primary destination for Indian solar modules. In Q3 2025 alone, India exported 5.2 GW to the U.S., with an additional 0.6 GW heading to Europe. This brings the total for the first nine months of 2025 to 15 GW, of which 10.4 GW was supplied to the U.S. and 1.6 GW to Europe. Solar modules overwhelmingly dominated these shipments, accounting for 97.8% of the total. Leading this export charge are India’s top three solar module manufacturers: Waaree Energies, Adani Solar, and RenewSys.
Conversely, India’s reliance on foreign solar components is diminishing. The country imported only 0.4 GW of solar modules in Q3 2025, marking a 39% decrease from the previous quarter. On a year-over-year basis, solar cell and module imports fell by 15.1%. This trend underscores the success of domestic manufacturing initiatives. China remains the largest source of imports, providing 74.7% of the total, with smaller volumes coming from Thailand, the United Arab Emirates, and Taiwan.
Domestic Solar Capacity and Market Dynamics in India solar exports
The foundation of this export success lies in India’s rapidly expanding domestic production capabilities. By the end of Q3 2025, the nation’s total manufacturing capacity for solar cells reached 52 GW and 55 GW for solar modules, representing substantial year-over-year increases of 33% and 34%, respectively. This growth is a testament to the sophisticated solar panel manufacturing process being adopted by local firms.
The market is concentrated among a few key players. The top five solar cell manufacturers—Waaree Energies, Adani Solar, Vikram Solar, REC Solar, and Rayzon Solar—command 71% of the country’s total cell manufacturing capacity. Similarly, in the module segment, Waaree Energies, Adani Solar, Vikram Solar, REC Solar, and RenewSys account for 58% of India’s total capacity. Their success depends on mastering the basics of solar panel manufacturing and securing a stable supply of high-quality solar panel raw materials.
Despite this manufacturing boom, domestic solar installations have seen a temporary slowdown. India added 3.7 GW of new solar capacity in Q3 2025, a 27% decrease from the 5.1 GW installed in the prior quarter. However, initiatives like the PM Surya Ghar rooftop solar program signal strong underlying domestic demand, aiming to equip 10 million households with solar systems.
Global Demand and Future Outlook for India solar exports
The Indian solar industry is capitalizing on a significant shift in global supply chains. As the U.S. and European markets seek to diversify their energy sources away from a single point of origin, Indian manufacturers have found a prime opportunity. The implementation of anti-dumping duties on Chinese modules by the U.S. has been a major catalyst, redirecting demand toward Indian suppliers.
However, the landscape is not without challenges. The U.S. recently raised tariffs on Indian solar imports to 50% as of August 2025, a move that could temper India’s price advantage. Despite this, the country’s growing scale, investment in advanced solar panel manufacturing machines, and a clear understanding of the solar panel manufacturing plant cost breakdown position it as a resilient and crucial player in the global energy transition.
As India continues to enhance its manufacturing prowess, it is poised to solidify its role as a key hub for solar energy production, navigating international trade dynamics while contributing significantly to the worldwide shift toward renewables.
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