India: approve incentive plan for PV module production

    On September 21, the Indian government approved a PV Solar Panel Power System module production incentive plan totaling 195 billion rupees.

    In order to promote the development of advanced manufacturing industry, the Indian government has previously launched the Manufacturing Industry Promotion Plan (PLI), which provides a total of 2 trillion rupees of preferential incentives for qualified manufacturing enterprises. The PV module production incentive now launched is an integral part of this plan.

    The Indian government officially announced its carbon emission reduction plan last year, and new energy including solar energy has become the key to the Indian government's energy transformation. Therefore, it is expected that PV modules will be included in the manufacturing promotion plan.

    It is reported that the Indian government will provide 195 billion rupees of incentives for qualified enterprises, which is expected to attract 940 billion rupees of investment in photovoltaic module production, create 200000 jobs, and reduce the import of related products by 1.37 trillion rupees.