Chandigarh, Jan 16: ”The Indian solar industry is at the threshold of a quantum leap from 135 GW capacity in 2025 to over 300 GW by 2030, making it the single largest contributor to India’s ambitious 500 GW non-fossil fuel energy target. We strongly advocate for an enhanced PLI scheme specifically for polysilicon, ingot, and wafer manufacturing. This targeted approach will enable India to rapidly establish critical upstream capabilities and reduce our heavy dependence on imports, particularly from China which controls over 80% of global solar manufacturing. Beyond PLI, we urge the government to introduce accelerated depreciation benefits for solar manufacturing equipment, similar to those provided for solar projects, which will significantly improve capital efficiency and returns. Additionally, reduced corporate tax rates for solar manufacturers and preferential lending rates through priority sector lending would enhance competitiveness and attract greater investments. These comprehensive policy measures will be instrumental in building a self-reliant, globally competitive solar manufacturing ecosystem that truly embodies Atmanirbhar Bharat.”
