India has overtaken China to become the world’s largest manufacturer of solar panels, a monumental achievement driven by extensive government support and private sector investment. According to industry reports, India’s solar panel manufacturing capacity now exceeds 60 gigawatts annually, reflecting a 40% growth over the last year.
Government initiatives such as the “Production Linked Incentive (PLI)” scheme have played a pivotal role in this transformation. By providing subsidies and tax benefits, India has attracted both domestic and foreign investment in renewable energy infrastructure. Additionally, technological advancements have enabled manufacturers to reduce costs, making solar panels more affordable globally.
This growth aligns with India’s ambitious goal of achieving 50% energy generation from non-fossil fuel sources by 2030. By dominating the solar panel market, India not only secures its energy independence but also positions itself as a global leader in combating climate change.
Despite this progress, challenges persist, including supply chain dependencies on rare materials and competition from Chinese manufacturers in global markets. However, experts believe India’s focus on innovation and sustainability will enable it to maintain its leadership position.
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