A research by Morgan Stanley states that India has become the third-largest country in terms of installed renewable energy capacity, and that this shift is helping the country become less reliant on energy imports.
According to the research, renewable energy is going to play a pivotal role in India’s plan to strengthen its economy in the medium run. Solar and wind power are in the forefront of the non-fossil fuel capacity surge, which has surpassed 262.7 GW and now accounts for more than 50% of the total installed capacity.
India continues to rely on imported solar cells, wafers, and polysilicon, even if local production of solar modules has grown substantially, going from 38 GW in March 2024 to 74 GW in March 2025. The bulk of the country’s $1.6 billion in solar module imports in FY2025 came from China.
In order to reduce supply chain risks and ensure long-term energy security, the report stressed the importance of developing domestic manufacturing across the solar value chain. This is especially important given the rapid scaling up of renewable deployment.
Image Credit: Solar Quarter
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