Solar rooftop installations and solar pumps are some of the other great opportunity sectors for MSMEs in India as well as in African countries, said Ashish Khanna, Director General, International Solar Alliance (ISA), speaking at an event organised by industry body PHDCCI.
Solar Pumps: A Key Opportunity for India
The ISA director highlighted India’s achievements in the solar sector, adding that there are vast opportunities for MSMEs in India’s solar journey and even markets abroad.
The other big opportunity is solar pumps. Thankfully, due to technology, the cost of solar pumps has come down so much that the world needs to switch away from diesel pumps to solar pumps now. India has right now done about 20 lakh. It plans to do 50 lakh. Imagine the size of the business where each pump costs roughly about USD 10,000, 8 lakh rupees. Think of how much business needs to be done across every village, reducing the cost to the farmer, making them part of the solar supply chain, becoming better for the environment and creating economic wealth. So these are the opportunities in India – ISA Director
Just a decade ago, India’s solar landscape was in its infancy, with panels dotting only a few rooftops and deserts. Today, the nation has raced ahead to script history: India has officially surpassed Japan to become the world’s third-largest solar power producer. According to the International Renewable Energy Agency (IRENA), India generated an impressive 108,494 GWh of solar energy, leaving Japan behind at 96,459 GWh.
India’s cumulative solar power capacity stood at 119.02 GW as of July 2025. This includes 90.99 GW from ground-mounted solar plants, 19.88 GW from grid-connected rooftop systems, 3.06 GW from hybrid projects, and 5.09 GW from off-grid solar installations, reflecting the country’s diverse approach to expanding renewable energy.
India’s Solar Manufacturing Surge: Doubling Capacity in One Year
India’s progress in the renewable energy sector reflects the country’s focused policies and strategic planning under national leadership. As part of the pledge made at COP26, efforts are being directed towards reaching the target of 500 GW of non-fossil fuel electricity capacity by 2030. This commitment is seen as a key step in India’s clean energy transition and its broader climate goals.
India’s solar manufacturing sector includes key components like solar modules, solar PV cells, and ingots and wafers. Producing these within the country supports the domestic economy and reduces dependence on imports.
In just one year, solar module manufacturing capacity nearly doubled–from 38 GW in March 2024 to 74 GW in March 2025. Similarly, solar PV cell manufacturing rose from 9 GW to 25 GW. A big milestone was the start of India’s first ingot-wafer manufacturing facility (2 GW), further strengthening the entire solar supply chain.
This rapid growth in domestic capacity is strongly supported by government policies. To promote Indian-made solar products, the government has made it mandatory for projects under schemes like the Rooftop Solar Programme, PM-KUSUM, and CPSU Scheme Phase II to use panels and cells made in India. (Inputs from ANI)
Also Read: India’s Solar Surge: How Solar Now Powers 24% Of The Nation’s Energy Capacity, What’s Next?
Ankur Mishra is a journalist who covers an extensive range of news, from business, stock markets, IPOs to geopolitics, world affairs, international crises, and general news. With over a decade of experience in the business domain, Ankur has been associated with some of the reputed media brands. Through a sharp eye on global marketplaces along with deep insights and analysis of business strategies, Ankur brings simplicity to the complex economic matrix to decode market trends and empower people.
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