New Delhi: With the Indian government trying to provide a level-playing field to domestic solar power equipment manufacturers, the business is set to become profitable, helping more capacity to be set up locally over the next two-four years, Ranjit Gupta, chief executive officer of New York stock exchange-listed renewable energy firm Azure Power has said.
“Almost Rs 80,000 crore to Rs 85,000 crore of solar equipment is imported from China every year to fuel India’s solar growth. There is no reason why we should be doing that,” said Gupta at ETEneryworld’s Energy Transition Summit on Thursday.
Regarding a lack of level-playing field between China and the rest of the world when it comes to manufacturing units, he said that as far as India and China are concerned the government was trying to level the field so that local module manufacturers are able to run a profitable business
“Once the government has taken those steps and the business becomes profitable, I am sure people will be attracted to this business and we will, over the next two to four years, be able to set-up manufacturing capacity within India. For us it's a low hanging fruit and I know that the government is working hard towards getting the solution realised and sooner than later it is likely to happen,” said Gupta.
He added that India has manufacturing capacity on the solar side and it is not difficult to set up units as demonstrated earlier.