India’s export of wind turbine components experienced a substantial increase in revenue in 2023 compared to 2019, indicating the country’s expanding role as a global manufacturing centre for renewable energy equipment, according to S&P Global Commodity Insights. With a robust production infrastructure, India is emerging as a key export hub, particularly for standardized and labour intensive components like towers and blades.
S&P Global Commodity Insights emphasizes India’s capacity to meet the global demand for wind turbines, noting that the Indian market is estimated to be four times oversupplied based on expected average annual wind additions of approximately 4 GW between 2024 and 2030.
In India’s manufacturing landscape, Western turbine manufacturers dominate, supplying markets outside China, particularly in Europe and the US. Companies such as Vestas and TPI Composites have made significant investments in their Indian facilities, positioning them as export hubs.
As reported by ETEnergyworld.com, in the solar PV sector, India is leading expansions beyond mainland China, driven by local incentive programs and duties. By the end of 2023, module capacity in India exceeded expectations by 10 GW, with an additional 40 GW in the pipeline. This expansion is facilitated by favorable local manufacturing policies and the opportunity to cater to international markets, notably the US.
