Indian solar imports increased by 448 percent in 9M 2021

Indian imports of solar cells and modules increased by 448 percent to $1.97 billion in the first nine months (9M) of the calendar year (CY) 2021. In the same period last year the country had imported solar cells and modules worth $359.93 million, according to Mercom India.
In the third quarter (Q3) of CY 2021, Indian solar imports stood at $953 million, a 580 percent increase compared to $140 million in the same period last year. Solar imports increased by approximately 25 percent quarter-over-quarter (QoQ) in Q3 2021 compared to $762 million in the previous quarter. In Q3 2021, solar exports rose 25 percent to $21.2 million from $16.9 million in Q3 2020, says the consultancy: »Import and export activity has picked with the market recovering from the impact of the Covid-19 pandemic.« According to Mercom’s Q2 2021 India Solar Market Update, in the first half (1H) of 2021, India added 4.57 GW of solar capacity, growing 251 percent over the same period last year, surpassing installations in all of 2020.
Solar module manufacturers believe that prices of Chinese modules are expected to stay high until Q1 CY 2022. Modules prices have gone up from $0.25/W in Q1 2021 to over $0.30/W to date.

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