Recently, the Indian government approved a total of 195 billion rupees of photovoltaic module production incentive plan.
In order to promote the development of advanced manufacturing, the Indian government has previously launched the Manufacturing Promotion Program (PLI), which provides preferential incentives totaling 2 trillion rupees for eligible manufacturing companies. Incentives for PV module production now introduced are an integral part of this plan.
The Indian government officially announced its carbon emission reduction plan last year, and new energy sources, including solar energy, have become the key to the Indian government's energy transition. Therefore, the inclusion of photovoltaic modules in the manufacturing promotion plan is also expected.
It is reported that the Indian government will provide 195 billion rupees of incentives for eligible companies, which is expected to attract 940 billion rupees of investment in photovoltaic module production, create 200,000 jobs, and reduce the import of related products by 1.37 trillion rupees.
