India’s solar module imports from Thailand double in 9 months

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China exported solar cells and modules worth $1,179.89 million to India in the first nine months [April to December] of the current financial year (2019-20), accounting for 77% of India’s total value of solar cell and module imports ($1,525.8 million) during the period—as per the data shared by renewable energy minister R K Singh in the Parliament recently.

In FY17, FY18, and FY19 India’s solar cell and module imports from China stood at $2,817.34 million, $3,418.96 million, and $1,694.04 million, respectively—against the country’s total solar cell and module imports worth $3,196.5 million, $3,837.6 million, $2,159.7 million, respectively.

Thus, China’s share in India’s total cell and module imports seems to have stabilized at a reduced level of 77-78% after peaking at 89% in FY18.

Countries like Thailand and Vietnam have emerged as the biggest gainers with their solar cell and module exports to India during April-December period of 2019-20 sharply increasing to $110.39 million and $127.21 million from $55.05 million and $91.97 million in 2018-19, respectively.