Tariffs over 230% halt India solar module exports to US
India's solar module exports to the US have basically stopped after the US slapped tariffs of over 230%.
By March 2026, all but one of India's top listed solar module companies had zero shipments going stateside, a sharp drop from FY24, when $2 billion worth of modules mostly went to the US.
Manufacturers pivot to India amid glut
With the US market out of reach, top Indian manufacturers like Adani New Industries and Vikram Solar are now focusing on India.
This shift has led to a production glut and arrested price growth at home.
Some companies, like Waaree, are getting creative, sourcing cells from Ethiopia to sidestep tariffs, while Vikram Solar has scrapped plans for a 3 GW per annum solar module manufacturing line in the US due to stringent regulatory requirements and a shortage of talent.