Currently, India imports 35 times more solar components, than its exports. According to the report, India imported solar equipment worth $2.17 billion<\/strong> between April 2016 and January 2017 while its exports stood at $60.3 million. These imports increased by a whopping 39% when compared to the same period in the previous year. China is the biggest exporter at $1.9 billion followed by Malaysia at $170 million<\/strong>.<\/p>\n China has been a multi-bagger of the boom in the solar industry<\/strong>. The country has been benefitted greatly owing to its economies of scale and cheap prices. Though India has set up a massive target of installing 100 GW of solar power by 2022, the country still lacks a decent polysilicon manufacturing unit<\/strong> which is the basic raw material for a solar cell (solar wafer). This makes India import solar cells and wafers from China. China owing to its close proximity to India and cheap prices have become the one-stop shop for the solar industry in India.<\/p>\n As explained in the last week\u2019s article, India lacks the sufficient amount of R&D, specialization <\/strong>and differentiation<\/strong>. The country needs to heavily invest in technology<\/strong> if it wants to take advantage of the boom in the Indian solar market. Not only solar cells the country also import huge volumes of solar panels. Though the government tried to save the local manufacturers through the Domestic Content Requirement<\/strong> (DCR), the efforts went in vain as the WTO ruled this practice as unfair.<\/p>\n![\"indo-china\"](\"http:\/\/www.greenworldinvestor.com\/wp-content\/uploads\/2017\/05\/indo-china.jpg\")
<\/a><\/p>\nChina\u00a0Biggest Exporter of Solar Equipment to India<\/h2>\n
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