India’s Solar Module Capacity to Hit 220 GW by FY2028

India’s solar module manufacturing capacity has risen sharply from about 72 GW in March 2024 to nearly 118 GW by July 2025, while cell capacity has grown from 8 GW to around 27 GW, according to CareEdge Ratings. Wafer manufacturing, however, remains limited at 2 GW, though several Indian companies are planning expansions exceeding 30 GW, with investments of over Rs 240 billion. The surge in capacity reflects growing installations, policy support, and easier access to finance. Current operational output stands at 50–60 GW for modules and 8–10 GW for cells, leaving a cell import dependency of about 40–45 GW, largely from China. To address this, India has introduced the Approved List of Models and Manufacturers (ALMM), mandating the use of domestic modules for specific projects. Upcoming