Solar Panel Exports from India: Key Growth & Statistics

Key Points:

• The top solar panel HS Codes are 9405, 94054090, 8541, 85414011, 8507 and 85072000.
• The major solar panel exporting countries are China, Vietnam, Malaysia, Germany, Japan and Hong Kong. 
• The prominent solar panel exporters in India include Servokon Systems Limited.
• Ecosys Solar Solution, Paradise Exports, Popular Science Apparatus Workshops Pvt. Ltd. and TMA International Private Limited.
• Based on solar panel export data, A total of 6,999 solar panels were shipped from India between March 2023 and February 2024 (TTM). 

Table of Contents:

• Is India importing solar panels?
• Solar panel export data from india
• India's Top Export Locations for Solar Panels
• Major Solar Panel HS Codes
• Top solar panel exports by country
• List of Solar Panel exporters in India
• How can I locate Indian solar panel exporters?

Solar panel manufacturing is at the forefront of India's green revolution, which has seen it quickly become a global centre for renewable energy solutions. With the support of government programs like "Make in India" and Production Linked Incentives (PLI), the nation can meet its domestic solar needs while simultaneously accessing the international market.

Thanks to competitive pricing, technological advancements, and an increasing demand for sustainable energy worldwide, Indian solar panels are now reaching nations in Asia, Africa, and Europe. This blog explores the latest trends in solar panel export from India, key markets, and the growing opportunities that make this sector a sunrise industry on the global stage.

Is India Importing Solar Panels?

According to Indian import Data, India imported solar cells and modules worth over $774.9 million (~?64.6 billion) in the second quarter (Q2) of 2024, a 16.4% decrease from the year before (YoY).

Furthermore, solar modules and solar cells accounted for 55% and 45% of the quarter's imports, respectively.

India imported $4,353.51 million worth of solar modules in fiscal 2023–24, up 361% from $943.52 million in fiscal 2022–23, according to data on solar panel imports.

Indian solar panels are imported from several countries:

Solar Panel Export Data: Latest Insights

Here is the table for solar panel export from India:

According to solar panel export data, A total of 6,999 solar panels were shipped from India between March 2023 and February 2024 (TTM). With 337 Indian exporters shipping goods to 594 buyers, exports increased by 47% over the previous 12 months.

In February 2024 alone, 1,316 shipments of solar panels were exported from India during this period. This indicates a sequential growth of 75% from January 2024 and an 82% year-over-year increase from February 2023.

India's Export of Solar Panels: Key Statistics

• According to Indian Export Data, India achieved solar module self-sufficiency and exported $1.03 billion worth of solar panels in 2022–2023, according to the Union Minister of Power and New & Renewable Energy.
• In fiscal year 2023-2024, India exported $1,969.13 million worth of solar modules, or 91% of the total, according to data on solar panel exports.
• With $1,939.92 million (98.5% of India's total module exports), the USA was the country's top destination for module shipments.
• Additionally, India's Ministry of Commerce and Industry stated that $4.73 million worth of goods were exported to South Africa.

India's Top Export Locations for Solar Panels

The table below has been updated to reflect India's solar panel export destinations.

Therefore, India's top export market for solar panels is the United States. Nearly 97% of all solar module exports from India went to the US alone, which continued to export goods valued at USD 1 billion.

However, based on the total export and import data for the period, India was much more reliant on importing solar cells and modules than on exporting solar products.

Major Solar Panel HS Codes

The list of Solar Panel HS Codes is as follows:

Thus, these are the most popular Solar panel HS codes. To learn more about solar panel export from India, get in touch with ExportImportData at any time if you require the product-specific HS codes.

List of Top Solar Panel Exporting Countries

The following is a list of nations that export solar panels, broken down by nation:

Thus, these are the leading exporters of solar panels or the leading exporting nations. With an estimated $50.8 billion in exports in 2023, China is the world's biggest exporter of solar panels. Connect with ExportImportData to easily explore global market insights if you require the most recent data on solar panel export from India or Indian solar panel exporters in India.

List of Solar Panel Exporters in India

The list of solar panel exporters in India is as follows:

• Servokon Systems Limited
• Ecosys Solar Solution
• Paradise Exports
• Popular Science Apparatus Workshops Pvt. Ltd.
• TMA International Private Limited
• Bhambri Solar Private Limited
• Lead Sourcing Company
• Naugra Export
• Benchmark Engineers And Consultants
• Divine Energies Solutions

The top solar panel exporters from India are listed above. According to the sources, the two biggest exporters of solar panels from India are Servokon Systems Limited and Ecosys Solar Solution. Visit our dashboard right now, though, if you require the most recent information on HS codes, solar panel export data, or solar panel export data.

How Can I Locate Indian Solar Panel Exporters?

You can find the most up-to-date and reliable solar panel export data by nation by visiting the ExportImportData platform, which provides real-time data on solar panel exporters in India. We provide the most precise and validated data on solar panel export from India, along with information on Import Export Data and Solar panel HS code.

For over 100 countries, ExportImportData.in provides reliable, current, and accurate information about international trade, including India Export Import Data. Among other products, we offer US import data and a current list of US importers.

Final Words!

So, India’s solar panel export industry is gaining momentum and is poised to play a transformative role in the global clean energy transition. With a growing manufacturing base, advantageous trade policies, and rising demand abroad, Indian exporters have a fantastic chance to make a significant impact on the world market.

One solar panel at a time, India is not only illuminating its future but also contributing to the global shift towards sustainability. However, if you still have any queries regarding solar panel export from India, India trade data, solar panel export data, exporter & importer details and solar panel HS Codes, connect with the ExportImportData platform and schedule a free live demo today.

Solar Panel Export Data From India

Solar panel export from India to the USA

Solar panel export from India to the UAE

Solar Panel HS Code

Solar Panel HS code: 9405

Solar Panel HS code: 94054090

Solar Panel HS code: 8541