A new list of India’s top solar panel makers in 2017 showed that the country is still struggling to break into the top tier of the global market.
In a statement, a spokesperson for the Confederation of Indian Industry (CII) said that the industry had witnessed a sharp decline in the global solar panel market.
“India is one of the world’s top 5 solar panel producers, but with a shrinking market and a shrinking workforce, the solar panel sector has remained stagnant,” CII spokesperson Praveen Kumar said.
“We hope this report will spur India’s efforts to take a bigger lead in the sector.”
The report comes as India struggles to catch up with other countries in the solar industry.
In March, India’s solar panel sales fell by 8.7% to $2.75 billion.
The country’s manufacturing sector, which accounts for around 70% of the market, also reported a drop of 2.6% to 3.3 billion units, the CII said.
In 2017, India imported the highest number of solar panels of any country, with 3.6 billion panels, followed by China, Germany and Brazil.
The report also showed that India was the largest exporter of solar energy equipment, with 4.4 billion panels.
CII has been trying to attract investment in the industry by providing grants and incentives.
It is expected to announce a new solar panel tariff rate on January 31, 2018.