Given the strategic need for solar power in India, a holistic policy to encourage domestic solar manufacturing is the need of the hour, a paper published by Indian Solar Manufacturers Association (ISMA) in collaboration KPMG has said.
The paper notes that Indian manufacturing policy recognizes solar manufacturing to be of strategic importance but the solar manufacturing industry has been facing challenging times because of various factors including lack of a level-playing field and various global factors, a statement released here said.
These have not allowed the industry to develop economies of scale and an end-to-end supply chain, it added.
It is estimated that about 100 GW of solar capacity shall be established in the country by 2030, the statement said. If a sustainable domestic manufacturing industry is promoted, it can save USD 42 billion in equipment imports, it added.
"It will also create 50,000 direct new jobs and more than 125,000 indirect jobs in the next 5 years. The presence of solar manufacturing within the country will also result in better energy security as it would prevent potential supply side disruptions since the country would not be dependent on imports," the statement further added.
