India could develop a fully integrated solar manufacturing industry by 2047, with module production capacity reaching about 3,484 GW, according to a roadmap from the Indian Solar Manufacturers Association (ISMA). The plan would extend domestic production beyond module assembly to include polysilicon, ingots, wafers and cells.
Under ISMA’s Vision 2047 scenario, installed solar capacity could reach 313 GW by 2030 and around 2,275 GW by 2047. The report says that would meet nearly half of India’s electricity demand. By comparison, its current-policy scenario projects installed capacity of about 278 GW in 2030 and 1,370 GW in 2047.
Meeting the Vision 2047 ambition would require cumulative manufacturing capacities of approximately 3,484 GW for modules, 3,128 GW for cells, 2,630 GW for ingots and wafers, and 2,200 GW-equivalent for polysilicon by 2047. ISMA says government-backed projects requiring domestically manufactured solar products are expected to support the expansion.
The report estimates that the sector could require $89 billion in new manufacturing investment by 2047, averaging $4.3 billion annually from 2027 to 2047. Nearly 70% of that investment is expected to go toward polysilicon, wafer and cell production. As of June 2026, India’s Production Linked Incentive scheme had attracted about $8.4 billion in investment, the report says.
Manufacturing-related employment could rise from approximately 410,000 jobs currently to 740,000 by 2030 and 3.23 million by 2047. Direct employment in solar manufacturing plants could reach 1.11 million by 2047, up from around 140,000. ISMA projects that cell, wafer and polysilicon production will account for more than half of direct manufacturing jobs by then.
A more complete domestic supply chain could reduce the annual solar import bill from about $4.4 billion currently to zero by 2041, according to the Vision 2047 scenario. India could also supply 26.5% of global solar modules by 2047; the report’s current-policy projection puts its share at 5.9% in 2030.
ISMA says achieving the targets would depend on predictable policy and demand, timely delivery of manufacturing programs, and investment in upstream production. Its recommendations include maintaining firm timelines for the Approved List of Models and Manufacturers, completing projects backed by the PLI scheme, expanding rooftop and agricultural solar programs, and developing domestic manufacturing equipment, technical skills, recycling frameworks and export markets. The roadmap envisages cell production scaling up through 2030, wafer manufacturing expanding through 2035, and a fully integrated value chain emerging thereafter.
Sources: pv magazine.