Industry Odisha Bureau, May 25: Although India is reportedly trying to reduce its trade deficit, India’s solar export boom to America is reportedly at low pace owing to the sharp American tariffs and duties being levied resulting in a “multi-billion-dollar-high-margin export opportunity” being reportedly getting marred.
Reports claimed that “a top-listed solar module company experienced nil exports during the quarter ended March 31 in the fiscal year (FY) 2025-26.”
Reports also claimed that “a market leader in the solar module export to the USA experienced fewer outbound shipments during the fourth quarter of FY 26”.
On the contrary, analysts had observed that, “India exported a peak of $2 billion worth of solar modules in FY24, majorly to the US.”
Thus, the analysts are of the view that, “Such a grim scenario of India’s declining solar exports comes as a shock, because India’s current account deficit is widening when Indian currency (Rupee)’s depreciation is making imports more expensive.”
Reports said that the Indian companies dealing in solar modules are exploring alternative international markets, but those alternative markets of Middle East, Europe, Australia and Africa, but reportedly “remain unviable since Chinese exports at lower prices flood those markets.”
Hence, the analysts have come to the conclusion that “except the US markets, neither other international markets are open for the Indian solar exports nor offer the lucrative profitability akin to the US markets as Chinese products are cheaper there and India is unable to beat the intense Chinese competition there.”
