India’s solar cell and module exports recorded a robust 65.2 per cent year-on-year growth in the third quarter of 2025, reaching $344.5 million, according to a recent report by Mercom Capital. The sharp rise underscores India’s growing footprint in the global clean energy supply chain, with Gujarat emerging as the clear hub of solar manufacturing and exports.
Gujarat alone accounts for about 47 per cent of the country’s total solar module manufacturing capacity and nearly 49 per cent of solar cell capacity. Major exporters including Adani Solar and Waaree Energies Limited, followed by Goldi Solar and ReNew Sys, are all based in the state, industry analysts noted.
Exports during the quarter were overwhelmingly driven by solar modules, which constituted nearly 98 per cent of total shipments. Industry executives said a substantial portion of these exports originated from Gujarat, home to the country’s largest concentration of integrated solar manufacturing facilities.
“While demand remains largely driven by the domestic market, exports are also performing well,” said Abhishek Pareek, Group Head–Finance at Waaree Group. “We continue to see strong demand from clients in the US, and at the same time, significant potential is emerging across markets in the Middle East, Africa, and Europe in the days ahead.”
The United States remained the dominant destination, absorbing nearly all of India’s solar exports during the quarter. However, exporters are beginning to feel the impact of additional US tariffs, which have raised total duties on Indian solar imports to 50 per cent, weighing on competitiveness and margins.
Kunj Shah, Chairman of the Energy Committee at the Gujarat Chamber of Commerce and Industry (GCCI), said Gujarat-based manufacturers have built a strong global presence across the US, Latin America, Europe and Africa. “The recent depreciation of the rupee has further enhanced the price competitiveness of Indian exporters, helping to partially offset cost and tariff pressures in overseas markets,” he added.
Despite these advantages, industry leaders cautioned that sustained tariff pressures are prompting a strategic recalibration. “Gujarat manufacturers still benefit from scale and integration, but tariff pressures mean margins are under strain,” said a senior executive at a Gujarat-based solar module company. “The focus is shifting from pure export growth to balancing overseas shipments with domestic demand.”
As global demand for clean energy continues to rise, analysts expect India’s solar manufacturing sector—led by Gujarat—to remain resilient, even as exporters navigate trade barriers and evolving market dynamics.
