The Report maps the demand drivers for solar panels in the medium term and concludes that while domestic sources shall be sufficient for modules, domestic cell capacities will remain short. This is despite vast efforts being taken by industry players to integrate backwards. Even as the broad picture for the industry appears rosy, a player wise analysis shows fractures. Integrated players catering to the DCR segment remain best positioned in terms of margins, while export dependent players are susceptible to the fast changing geo-economic milieu, and would do well to integrate.
