India will establish itself as a major player in the global supply chain for renewable energy equipment and start exporting as its solar manufacturing capacity alone reaches 100GW by 2026.
With an investment of Rs 24,000 crore, the government is putting into place a production linked incentive (PLI) scheme that would help establish 48 GW of solar equipment manufacturing capacity by 2026.India now has a 28GW capacity for solar module production and a 6GW capacity for solar cell production. India should be able to produce 100GW worth of solar modules once the PLI scheme for solar is put into place.
India has the fourth-largest global capacity for renewable energy. India has a lofty goal of reaching 500GW of renewable energy capacity by 2030 and wants to derive 50% of its electricity from non-fossil fuel sources like solar, wind, and green hydrogen. India wants to be a world-class producer of solar modules. The manufacturing of RE is set to become a major industry in India.