Indian solar exporters target EU, but FTA with bloc remains crucial

“With upcoming large module manufacturing in India, Indian companies could look at more export markets for growth,” said Harshraj Aggarwal, executive vice president – institutional equity research at Yes Securities. “The ‘non-China’ market segment in Europe is an immediate ~1-2 GW opportunity for each major country like Italy, Germany, Spain, and the Netherlands. Overall, the EU can be a 50-60 GW market, and less than 8% is manufactured locally and rest imported from China. Under Net-zero Industry Act, EU is moving away from China. So, India has an easy 50 GW market to tap into given it’s one of the few global manufacturers able to fill this void.”