NEW DELHI: India imported US$763 million worth of solar cells and modules from April to August 2016, representing a 53% rise from the US$497 million imported in the same period last year, according to figures from consultancy firm Mercom Capital Group. China had a dominating share, accounting for 85% of all India’s imports, followed by Malaysia (9%), Taiwan (3%), USA (1%), and Singapore (1%).
China’s dominance appears to be increasing. Bridge to India previously reported that Chinese module suppliers had increased their share of the Indian solar PV market in the 12 months running up to August 2016, to 75%, up from around 50% in the previous 12 months. Mercom cited the lower costs of Chinese components as the reason for a growth in imports. The consultancy expects imports to only increase given that there is roughly 90GW more PV to be installed by 2022 to reach government targets.
