Top solar panel makers said that the trade deal with the United States will boost Indian solar exports to the US and help them integrate into global supply chains.
The deal will bring down US tariffs on Indian goods from 25% to 18%, which would make exports competitive, industry players said. The US also removed penalty tariffs of 25% for Russian oil imports.
India is a major supplier of solar panels to the US, with 97% of its module exports, totaling 10.4 GW, destined for the US in the first nine months of 2025. Interestingly, the trade deal came weeks after the US pulled out of the International Solar Alliance, backed by India.
What did Prasant Mathur say?
“The seven-percentage-point reduction in tariffs significantly enhances the cost-competitiveness of Indian-made solar cells and modules,” said Prashant Mathur, Chief Executive at Saatvik Green Energy, a solar panel maker.
“The improvement will make projects more profitable for US developers and create a substantial new demand for high-efficiency, Made-in-India products in the coming years,” Mathur said.
He added, “For companies such as Saatvik, the deal transforms the US market from being high-risk to one full of opportunities, emphasizing the need to accelerate investments, upgrade technology, and establish long-term, bankable partnerships with American utilities and developers.”
Saatvik is building its first cell plant of 2.4 GW, expected to start production in October, and the second one is expected to come online a year from then.
What did Gyanesh Chaudhary say?
Gyanesh Chaudhary, Chairman & Managing Director at Vikram Solar, said, “For Indian manufacturers and solution providers across solar, energy equipment, advanced materials, and power infrastructure, the deal creates a powerful runway to scale exports, deepen value addition, and integrate more meaningfully into global supply chains.”
“It strengthens India’s position not just as an energy consumer, but as a reliable energy exporter and technology partner to the world’s largest economy,” Chaudhary added. Vikram Solar exports a substantial amount of its products to the US.
“The agreement provides incremental advantages through lower tariffs and improved market access, which can further enhance the competitiveness of Indian exporters across manufacturing and services. The deal does strengthen global linkages and offers additional opportunities for businesses to scale and diversify as more details emerge,” said DV Manjunatha, Chairman and Managing Director at Emmvee Photovoltaic Power.
Vinay Thadani, Director & CEO of GREW Solar, added that the new tariff framework brings greater clarity to global solar trade dynamics and allows manufacturers to plan export strategies with more certainty.
“For the industry, this reinforces the need to strengthen cost competitiveness, supply chain resilience, and geographic diversification to sustain export momentum,” Thadani said, adding, “The strong global demand for reliable solar manufacturing continues to present long-term opportunities for Indian players.”
Stocks of solar companies led by Waaree Energies rose sharply on Tuesday. Waaree stock gained 14.34% in intraday trade and ended at Rs 3,102.05, about 11% higher than Monday’s close. Premier Energies stock rose as much as 10% in intraday trade and ended at Rs 789.75, about 7.5% higher than Monday’s close.