ISMA report projects 32 lakh jobs and 89 billion dollars in solar investments by 2047

A statement released by the Indian Solar Manufacturers Association (ISMA) detailed findings from a report titled Vision 2047: Solar Manufacturing from Polysilicon to Power Plant. According to the study, India's solar manufacturing industry can generate 32 lakh (3.2 million) jobs and attract 89 billion dollars in investments by the year 2047. The report outlines a strategic pathway for the country to expand beyond basic module assembly and establish domestic production facilities across the entire solar value chain.

The solar sector has historically focused on assembling imported components into finished solar modules, limiting domestic value addition. The new vision presented in the report shifts this focus toward backward integration by building localized manufacturing capabilities for polysilicon, ingots, wafers, cells, and modules. This transition aims to secure the domestic supply chain, reduce import dependency, and position India as a global hub for solar energy production. Industry participants, clean energy investors, and manufacturing firms should analyze the report's roadmap to identify capital expenditure opportunities in upstream solar components.

Businesses must monitor upcoming government policies and incentive schemes aligned with domestic manufacturing targets to optimize their strategic investments. Bottom line: the projected growth signals immense long-term potential for stakeholders positioned along the complete solar energy value chain.