Imports of photovoltaic cells and modules into India jumped by 73% in quarterly terms in January-March 2018, while exports experienced a 73% drop, Mercom Capital Group said on Wednesday.
In the first quarter, the country imported USD 1.08 billion worth of solar cells and modules, as compared to USD 799 million in the final quarter of 2017. Meanwhile, exports slumped to USD 19.15 million from USD 70.18 million in the previous quarter.
China is still the single largest exporter of solar cells and modules into India, with Chinese companies accounting for almost 91.5% of total imports. Taiwan took a share of 4.4% of all solar imports into India, followed by Malaysia with 1.2% and Canada with 0.8%. Apart from those countries, Thailand and Vietnam are also supplying PV cells and modules to India.
More than 3 GW of solar power capacity was brought online in the three-month period, according to Mercom’s data.
In terms of exports, Niger accounted for 32% of India’s solar exports to other countries. The second largest importer of Indian PV equipment was the US with a 14% share, which is seen to grow further following the US decision to exempt India from a 30% anti-dumping duty on its solar imports. South Africa and Belgium each had a market share of 9%.