India Turns To Africa And Latin America As U.S. Solar Exports Stall

India Plans Export Financing

India is considering using its Export-Import Bank to provide loans and lines of credit to African and Latin American countries to support purchases of Indian-made solar modules, according to a report by Mint on October 9.

The move aims to help Indian solar manufacturers find new buyers as exports to the United States have nearly stalled following the imposition of steep trade duties.

High Tariffs Reshape Solar Trade

The United States was previously the largest overseas market for Indian solar modules. However, anti-dumping and countervailing duties reportedly reaching up to 126% on Indian solar products have made exports to the U.S. increasingly difficult.

Indian suppliers are now seeking alternative markets, including Africa, Latin America and Europe, to diversify their export destinations.

Emerging Markets in Focus

If implemented, the financing plan could make Indian solar modules more accessible to overseas buyers by easing credit constraints. It also highlights how trade barriers are reshaping global solar supply chains and encouraging manufacturers to pursue new export markets.