India’s solar manufacturing sector could attract investments of $89 billion, generate over 32 lakh jobs and significantly reduce import dependence under the Indian Solar Manufacturers Association’s (ISMA) Vision 2047 roadmap.
A report released by ISMA at the Bharat Renewable Energy Summit & Expo 2026 outlines a strategy to expand India’s solar manufacturing capabilities beyond module assembly and establish an integrated domestic value chain covering polysilicon, ingots, wafers, cells and modules.
According to ISMA Secretary General Amit Manohar, India’s solar manufacturing industry is at a crucial stage, with Vision 2047 offering an opportunity to develop a globally competitive manufacturing ecosystem. Moving towards end-to-end domestic manufacturing would allow India to retain a larger share of the value generated from solar panels produced in the country while strengthening its position in international markets.
Under the proposed roadmap, India’s installed solar capacity could reach 2,275 GW by 2047. To support this expansion, manufacturing capacities are projected to reach 3,266 GW for modules, 2,796 GW for cells, 2,479 GW for ingots and wafers, and 2,156 GW equivalent for polysilicon.
The report estimates that domestic manufacturing across the entire solar value chain could meet India’s requirements within the next decade, with production capacities scaling up alongside the growth in solar installations and exports.
The roadmap also projects a significant reduction in import dependence. India’s annual solar import bill, currently estimated at around $4.4 billion, could decline to zero by 2041. Furthermore, the country could account for 26.5 per cent of global solar module supply by 2047, compared with approximately 5.9 per cent under the current policy scenario by 2030.
ISMA noted that achieving these targets will require sustained policy support, predictable demand, investments in upstream manufacturing and continued efforts to improve India’s global competitiveness.
(Only the headline and image of this report may have been reworked by the Manufacturing Tales staff; the rest of the content is auto-generated from a syndicated feed.)
