India’s Solar Exports Surge by Over 200%, Imports Up by 38% in Q3

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China remains India’s single biggest supplier of solar modules and cells, accounting for almost 84.5 per cent of the country’s solar imports in the third quarter

India’s export of solar cells and modules recorded a jump of 223 per cent in third quarter of 2018 as compared to the previous quarter. The country exported US$ 56.23 million (around Rs 4.01 billion) worth of solar cells and modules in July-September quarter of this year, as pert the recent data by Ministry of Commerce.

In the second quarter of 2018, the export of solar cells and modules from India stood at $17.4 million (approx. Rs 1.24 billion).

In the July-September quarter, the major market for India’s solar modules and cells was the US, accounting for 58 per cent of overall solar exports. However, this is a drop from 63 per cent in the previous quarter. Australia, Belgium, Denmark, the Netherlands and Poland were other major markets that imported solar cells and modules from India.

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On the other hand, India’s solar imports also surged significantly in the third quarter of 2018. The country imported solar modules and cells worth US$ 602 million (Rs 42.96 billion) in the given quarter, witnessing an increase of 38 per cent as compared to $436.63 million (Rs 31.21 billion) worth of solar cells and modules imported in the previous quarter.

However, import activity dropped by 17 per cent as compared to the same period last year.

China continues to be the largest supplier

China remains India’s single biggest supplier of solar modules and cells, accounting for almost 84.5 per cent of country’s solar imports in the third quarter, a slight increase from 75.9 per cent in the previous quarter.

Singapore’s share in India’s imported solar cells and modules was 6.9 percent in the given quarter. The country exported $41.33 million (Rs 2.93 billion) worth of solar cells and modules to India, making it the second biggest supplier.

Taiwan overtook Malaysia, Thailand, Canada, Hong Kong and Vietnam to emerge as the third biggest supplier of solar modules and cells to the country, accounting for 3.8 per cent of the market share.

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