Opinion | MSMEs hold key to India’s Atmanirbhar solar manufacturing

The solar photovoltaic (PV) manufacturing market, unlike the PV deployment market, is much less distributed and democratic, with manufacturing concentrated in just a few countries. However, all is not lost yet.

Globally for solar PV, the transition from a budding market to a mainstream market is on the horizon, as the industry expands from today’s annual production of 100 GWP to an expected 3,000 GWP/year by 2030. In a lot of ways, the 2020s will be the inflection point, such that nations and companies that make the right set of decisions now will be in the best position to ride the growth wave. They may also be able to create value beyond company level profit in the form of energy security and independence from rent-seeking behavior due to lack of diversified value chains. However, for India and Indian companies to realise these gains, a comprehensive and nimble long-term strategy, in spirit, action, and continued enforcement will be essential.

India is already the world’s third-largest solar market by deployment, and has further set an ambitious target of 300 GW of solar PV by 2030.