Indian biggest solar equipment makers are facing financial downfall as priced out by Chinese Competitors as India’s PM government prioritizes cheap power over local manufacturing. United States President Donald Trump is trying to pull the region out of the Paris agreement on climate change. India still sticks to its big renewable energy program. For sure that has sketched a tremendous market for Chinese solar products. By 2022, PM targets to raise energy generation to 175GW from all the renewable sources, as India’s solar power generation capacity has already crossed 12 gigawatts. As the industry data, the Chinese companies gained most of the increase from that accounting around 85 percent Indian solar module and from that, they are getting revenue of around $2 billion.
In upcoming few years, the annual market could plunge around $10 billion going to the government’s capacity targets. Local solar equipment maker companies stressed because of the financial collapse, they are struggling to complete their targets. Jupiter stated that it will not deliver the equipment’s after July, after delivering their last orders of the months. Moser Baer says they required investor support to recover its solar business. Jupiter CEO, Mr. Dhruv Sharma said, “The WTO ruling has torpedoed everything, it’s not a case of one company, we have the largest cell operating capacity, everybody below us will shut down one after another”. There are more than hundred solar cell as well as module makers registered with the government then also India expects only a few to survive. A senior official in the Ministry of New & Renewable Energy, Mr. Santosh Vaidya said, “the government was working on several initiatives to promote the domestic solar manufacturing industry”. CEO of module maker Vikram Solar, Mr. Gyanesh Chaudhary said, “The government is busy bringing power prices down but you can’t build castles on graves”. Further, he added, “Without a domestic manufacturing ecosystem, no public policy can last for a long time”.