In an interview on the sidelines of the Mercom India Renewables Summit 2025 held in New Delhi on July 24 and 25, 2025, Bhupendra Singh Rawat, CEO at Dhash PV Technologies, noted that despite ample domestic capacity, cheap imports still account for a large share of the solar component market due to price gaps. He called for the immediate implementation of BIS standards for solar cables and junction boxes to curb imports and strengthen India’s solar component ecosystem.

What are the products that Dhash PV currently offers in the solar and renewable space?

We are India’s largest and the global number one non-Chinese integrated junction box manufacturer. We currently have an operational capacity of 53 GW, which we are expanding to 63 GW. We have backward integration in place, including our polymer manufacturing for injection molding parts.

The next major addition is DC cables with a production capacity of 1,000 kilometers per day. We are also expanding into interconnect busbars, starting with 6.3 GW capacity, which is already operational, and targeting 25 GW this financial year. By the end of the year, we will have 63 GW of junction box capacity, 25 GW of busbar capacity, and 1,000 kilometers per day of DC cables.

Of the products you manufacture, what is the ratio of imported versus domestically produced components?

We have a 30% market share in India, but there are still a lot of cheap imports coming in. The biggest reason is the price gap; imported products can be about $20 cheaper, which no industry can sustain without support. Currently, the basic customs duty is only $8.25 on junction boxes and $5.5 on interconnect busbars, so the domestic market remains vulnerable.

We have seen strong protectionist policies for modules, but not for other components like yours. What would be your message to the government?

For any industry to flourish, there must be a complete ecosystem. I have been in this industry since 2007 and have seen the module sector grow to 95 GW of capacity. That growth was made possible not just by duties, but by policies like ALMM. In component and ancillary manufacturing, where we work alongside glass, aluminum frame, and encapsulant manufacturers, duties are already in place for certain products.

We are requesting that the government implement barriers for our components as well, and to adopt BIS standards for solar cables and junction boxes immediately. The BIS standard for solar DC cables has been in effect since August 2023, and there are now 21 domestic manufacturers with sufficient capacity to meet demand. The government should stop unnecessary imports so the domestic industry can grow.

Prices of metals like aluminum and copper have been rising. How do you see this affecting product pricing?

India is a price driver globally, even though China leads in manufacturing capacity. If we want renewable deployment to accelerate beyond our current 50% renewable target, pricing must remain competitive, without compromising manufacturing viability. Domestically, non-DCR modules are already available at around ₹13 (~$0.15)/W, which is quite competitive. China has also begun to control pricing by limiting new manufacturing capacity. I believe India should also consider capacity alignment, as module manufacturing is likely to reach 180 to 200 GW by the end of next year, far exceeding domestic demand.

Does the lack of BIS or other standards affect your ability to export?

Until now, the domestic market has absorbed most of our capacity, but with the growth in manufacturing, we are targeting exports. We are already in discussions with major U.S. module manufacturers and aim for 10% of our sales to be exports. If domestic capacity outpaces demand, creating overseas demand becomes essential. Export benefits and incentives would help in this regard.

What is Dhash PV’s near-term and medium-term roadmap?

Financially, our goal is to become a billion-dollar company by 2029–30. We will achieve this by expanding our existing portfolio and adding niche products to enter new segments. We are already working on several new products and are confident of meeting our targets.