India imported 84% of its solar equipment from China in the past fiscal year, valued at around $1.96bn, according to Piyush Goyal the country's new and renewable energy minister. The total value of solar imports to India rose dramatically compared to 2014/15, up from $820.95m to $2.34bn, with China's share of the market up increasing by around 10%. Goyal moved to reassure that the Indian government was also providing support to its domestic manufacturers. India has set an ambitious target of around 6.5 GW of solar PV capacity by 2022 and is expected to become the world’s third-largest solar market next year.
India imported 84% of its solar equipment from China in the past fiscal year, valued at around $1.96bn, according to Piyush Goyal the country's new and renewable energy minister. The total value of solar imports to India rose dramatically compared to 2014/15, up from $820.95m to $2.34bn, with China's share of the market up increasing by around 10%. Goyal moved to reassure that the Indian government was also providing support to its domestic manufacturers. India has set an ambitious target of 100 GW of solar PV capacity by 2022 and is expected to become the world’s third-largest solar market next year.