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Brinks Report > Blog > World > US Solar Tariffs Could Open Doors for Indian Exports! Is India Ready to Take Over the Solar Market?
World

US Solar Tariffs Could Open Doors for Indian Exports! Is India Ready to Take Over the Solar Market?

Ankita Das
Last updated: April 24, 2025 2:43 pm
Ankita Das
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The US has recently imposed high tariffs on solar products from Cambodia, Vietnam, Malaysia, and Thailand, which could create new opportunities for Indian solar manufacturers. The US has been a major market for Indian solar products, accounting for 97% of India’s solar exports in recent years. The new tariffs may encourage the US to turn to India for more solar products as an alternative.

While this could benefit Indian manufacturers, experts warn that India’s own manufacturing capacity is just enough to meet local demand. If companies decide to focus on the US market due to the higher profit margins, it could lead to a shortfall in meeting India’s domestic needs.

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Prashant Mathur, CEO of Saatvik Green Energy, explained that the global shift in solar product trade has created new opportunities for India, especially in North America, Europe, and the Middle East. The US has imposed tariffs as high as 3,521% on imports from Cambodia, Vietnam, Malaysia, and Thailand, accusing them of benefiting unfairly from government subsidies and selling at lower prices than their production costs.|

Also See: Philippines to Receive Second Batch of BrahMos Missiles from India

Indian solar products are expected to be more competitive in the short term, as long as India doesn’t face similar tariffs. However, there are concerns about whether India can meet both its domestic demand and the growing demand from the US.

Ashish Agarwal, Head of Solar & Storage at BluPine Energy, noted that while the tariffs may increase costs in the US, they also provide significant opportunities for Indian manufacturers. With Chinese exports facing restrictions, India is well-positioned to fill the gaps, especially in the US market.

The Indian government’s support, including initiatives like the Production Linked Incentive (PLI) scheme and the Approved List of Models and Manufacturers (ALMM), has also played a crucial role in strengthening India’s solar industry. These policies have helped expand manufacturing capacity, improve technology, and meet international standards.

Read More: Solar Stock Surge: What’s Behind the 15% Jump—and Is This Just the Beginning?

India’s solar module manufacturing capacity is expected to grow significantly, from 38 GW in March 2024 to 74 GW by March 2025. The country’s solar cell manufacturing capacity is also set to triple during this period.

As the US market continues to be important for Indian solar exports, many Indian manufacturers are also setting up production facilities in the US. Companies like Waaree Energies, Vikram Solar, Saatvik Energy, and Navitas Solar are already expanding their presence in the US.

Waaree Energies, for example, is planning to increase its US manufacturing capacity to 3.2 gigawatts by adding a new 1.6 GW production unit in Texas. The exposure to the US market will help Indian manufacturers improve their product quality and competitiveness.

While the growth in solar exports to the US is promising, it may come with challenges in balancing the needs of the growing export market and domestic demand. India’s government aims to increase its renewable energy capacity to 500 GW by 2030, and some schemes like PM Suryaghar require the use of domestically manufactured solar modules.

In conclusion, the new tariffs on Southeast Asian solar products open up a significant opportunity for Indian manufacturers to grow their exports, especially to the US. However, it’s important to ensure that India’s domestic needs are not compromised as the solar industry expands.

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TAGGED:India Solar IndustryIndian solar marketrenewable energysolar exportssolar manufacturingUS tariffs
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