India added 119 GW of solar module manufacturing capacity and more than 9 GW of cell capacity in calendar year 2025, according to a new report by Mercom India’s newly released report, State of Solar PV Manufacturing in India 2026.
The report attributes the capacity additions to demand from India’s large utility-scale solar project pipeline, residential rooftop targets under the PM Surya Ghar program, and the Approved List of Models and Manufacturers (ALMM) List II domestic cell mandate.
Cumulative module manufacturing capacity reached around 210 GW as of December 2025, while cell manufacturing capacity totaled about 27 GW. Of this, module capacity under ALMM List I stood at 173.1 GW, while cell capacity under ALMM List II was nearly 26.5 GW at the time of the report’s release.
“While 2026 is widely seen as the year domestic module and cell production will meet demand, our view is that alignment will occur later in the year. Domestic cell manufacturing capacity is expected to begin increasing after March based on commissioning timelines, and ahead of the ALMM domestic cell mandate taking effect in June. However, newly commissioned lines typically require around eight months to stabilize and achieve optimal yields. As a result, effective supply available to module manufacturers will increase more gradually,” said Raj Prabhu, CEO at Mercom Capital Group.
“Solar module manufacturing in India is ripe for consolidation. Declining mono PERC demand, lower utilization at smaller facilities, and rising capital requirements are shifting market share toward larger, integrated, and more efficient manufacturers,” added Prabhu.
A total of 99 GW of solar modules and cells were imported in 2025. Modules accounted for 25% of imports, while cells constituted 75%.
Domestic manufacturers exported around 5 GW of solar modules in 2025, with the United States accounting for 96.8% of shipments. Cell exports totalled 192 MW, with the United Arab Emirates as the leading destination, accounting for 57% of exports.
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