Solar Imports Grew by 40 Percent Year-over-Year, Exports Declined 22 Percent in the First Seven Months of Financial Year 2016-17

In the seven months from April to October in financial year (FY) 2016-17, export and import activity totaling $1.22 billion (~Rs.83.22 billion) was registered in the Indian solar sector. This was $1 billion (~Rs.68.35 billion) more compared to import and export activity worth $224 million (~Rs.15.28 billion) in the same period in 2015.

During the seven-month period India exported solar modules and cells worth $56 million (~Rs.3.82 billion) and imported solar modules and cells worth $1.17 billion (~Rs.79.81 billion). Compared to the same period in 2015, solar imports have grown by 40 percent, whereas exports have declined by 22 percent, down from the $72 million (~Rs.4.91 billion) in the same period in 2015.

Imports rose by 10 percent and exports dropped by 84 percent in the month of October 2016 compared to October 2015.

China is the largest exporter of solar modules and cells to India, accounting for $1,023 million (~Rs.69.78 billion) worth of Indias total solar import and an 87 percent market share. Malaysia is the second largest exporter to India, accounting for $82.03 million (~Rs.5.59 billion) of Indias imports and a 7 percent market share.

Indias solar exports are witnessing a gradual decline. The United Kingdom was the largest importer of Indian solar modules and cells, accounting for 34 percent of Indias total solar exports. Italy accounts for nine percent of exports, followed closely by Belgium and China at over eight percent each.

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In the seven months from April to October in financial year (FY) 2016-17, export and import activity totaling $1.22 billion (~Rs.83.22 billion) was registered in the Indian solar sector$ 1.22 billion (~Rs.83.22 billion) worth of export and import activity took place in the solar sector. This wasis $ 1,002 bmillion (~Rs.68.35 billion) more compared to import and export activity worth $ 224 million (~Rs.15.28 billion) in the same period in 2015.[W1] [saumy2] 

During the seven-month period India exported solar modules and cells worth $56 million (~Rs.3.82 billion) and imported solar modules and cells worth $ 1.17 billion (~Rs.79.81 billion). Compared to the same period in 2015, solar imports have grown by 40 percent, whereas exports have declined by 22 percent, down from the $72 million (~Rs.4.91billion) worth of exports in the same period in 2015.

If just the import and export activity for the month of October for 2015 and 2016 is considered, iImports rose have risen by 10 percent and exports dropped have gone down by 84 percent in the month of October 2016 compared to October 2015.


 [W1]Are we supposed to combine imports and exports?

 [saumy2]Yes, we do so all the time.

 
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