India's solar import bill could fall over 95% as industry eyes $89 billion investment by 2047
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓India’s solar import bill could fall over 95% as the industry eyes $89 billion in investment by 2047.
- ✓The ISMA report released on Tuesday said this growth could create 32.3 lakh jobs.
- ✓Amit Manohar said, "The potential to attract USD 89 billion in investments underscores the strategic importance of manufacturing."
Story at a Glance
- Category
- BUSINESS
- Reported By
- Financial Express
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
India's solar import bill could drop by over 95% by 2040s with $89 billion in domestic investments supporting 32.3 lakh jobs, as solar capacity and manufacturing expand under ISMA's Solar Manufacturing Vision 2047.
The projections, outlined in its Solar Manufacturing Vision 2047 report released on Tuesday, depend on sustained policy support and the expansion of domestic production beyond panels to solar cells, wafers and polysilicon.
Under the association's Vision 2047 pathway, India's installed solar capacity could rise to 2,275 gigawatts (GW) by 2047, compared with about 171 GW currently. If existing programmes continue at their present pace, the figure would be around 1,370 GW, the report estimated.
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