Capitalizing on India’s burgeoning solar industry, solar glass manufacturer Borosil Renewables aims to capture 60% of the country’s domestic market, which is predicted to grow at a CAGR of 7.60% from 2025 to 2033 and reach 990.46 thousand tons.
Company Chairman Pradeep Kheruka, spoke of the company’s 6.5 gigawatts (GW) manufacturing facility in Bharuch, Gujarat, which is being expanded to increase production capacity by the end of 2026. “We recently undertook a Rs 950 crore expansion endeavour for our facility, which involves installing 2 new furnaces, each with a capacity of 300 TPD. This will increase the unit’s total installed capacity from 1,000 TPD to 1,600 TPD and is scheduled for commissioning between October and December 2026,” he said. Kheruka added that Borosil Renewables currently holds a market share of approximately 40% of solar glass produced in India.
As the government aims to boost the solar sector’s domestic manufacturing ecosystem with measures such as financial incentives and an anti-dumping import duty on solar glass, Kheruka noted, “Presently, Indian solar glass companies supply about a third of domestic demand. The rest is procured through imports from countries such as Vietnam and China. Before the anti-dumping duties were imposed, imported solar glass from China was priced between Rs 28,000 to Rs 30,000 per metric ton, forcing domestic manufacturers to sell at similar, unprofitable prices. The new cost of these imports has reached approximately Rs 57,000 per metric ton, allowing companies like ours to price their products more competitively.”
The 5-year anti-dumping duty on certain kinds of solar glass imported from China and Vietnam ranges from USD 570 to USD 664 per metric ton.
Kheruka predicts that annual solar power installations will touch 40 GW within 2 years, thereby increasing solar glass demand for 55 GW for sectors such as grid-connected power, residences, agriculture and other commercial & industrial (C&I) activities. “With a complete shift towards bifacial and thinner glass modules, Borosil Renewables is committed to expanding its production capacity to 10 GW by July CY26,” he stated. “While the company is focused on scaling its solar glass manufacturing operations, we are constantly innovating and open to new opportunities for growth within and outside this niche.”
After hitting a month-high of Rs 572.55 on the NSE, Borosil Renewable’s share price has steadily declined, closing at Rs 589.30 on Monday. Industry experts attributed the fluctuations to the subdued sectoral performance before the anti-dumping duties were enforced.