China+1 Strategy Creating Major Solar Manufacturing Opportunity for India

The global energy system is entering a multi-decade super-cycle, driven by AI, data centers, EVs and industrial electrification, with solar emerging as the cheapest and fastest-growing source of new power capacity. As renewable adoption becomes economically inevitable, global solar capacity is expected to triple by 2030. Simultaneously, concentration of the solar supply chain in China is prompting a structural China+1 diversification, creating a multi-year demand reallocation opportunity. India is emerging as a key beneficiary through policy support, domestic demand and manufacturing scale-up, though superior returns will depend on selective exposure to financially strong, execution-focused market leaders.