India could turn its solar manufacturing industry into a fully integrated global powerhouse by 2047, creating 32.3 lakh direct and indirect jobs and attracting $89 billion in manufacturing investment, according to an ISMA report.
New Delhi, November 3 — India’s rapidly expanding solar industry could create as many as 32.3 lakh direct and indirect jobs by 2047, as the country develops domestic manufacturing capabilities across the entire solar value chain.
According to the Indian Solar Manufacturers Association (ISMA) report titled Vision 2047: Solar Manufacturing from Polysilicon to Power Plant, India has the potential to move beyond module assembly and develop manufacturing capacity covering polysilicon, ingots, wafers, cells and modules.
Under the Vision 2047 pathway, India’s installed solar capacity could reach 2,275 GW by 2047.
The report projects manufacturing capacities of 3,266 GW for modules, 2,796 GW for cells, 2,479 GW for ingots and wafers and 2,156 GW-equivalent for polysilicon.
The expansion could substantially increase employment in the sector.
Total manufacturing-related employment could rise from approximately 4.1 lakh currently to 8.1 lakh by 2030 and 32.3 lakh by 2047.
Direct employment in solar photovoltaic manufacturing plants alone could increase from around 1.4 lakh to 11.1 lakh by 2047.
Nearly 68% of direct manufacturing jobs could eventually be concentrated in upstream segments such as cells, wafers and polysilicon.
Building this manufacturing ecosystem will require significant investment.
ISMA estimates that India may need approximately $89 billion in new solar PV manufacturing investments by 2047, equivalent to an average of about $4.3 billion annually between 2027 and 2047.
Nearly 70% of this investment is expected to go into polysilicon, wafers and cells.
The government’s Production Linked Incentive (PLI) scheme had already attracted around $8.4 billion in investment by June 2026, according to the report.
A stronger domestic manufacturing ecosystem could also reduce India’s dependence on imported solar equipment.
The report projects that India’s annual solar import bill could decline from around $4.4 billion currently to zero by 2041 under the Vision 2047 pathway.
India could also account for 26.5% of global solar module supply by 2047.
ISMA Secretary General Amit Manohar said achieving the target would require sustained policy support, predictable domestic demand, investment in upstream manufacturing and continued efforts to improve global competitiveness.
The report also called for expansion of rooftop solar and agricultural solarisation programmes, development of domestic manufacturing equipment, stronger technical skills, advanced cell technologies and larger export markets.
