Trina Solar is planning to set up a facility over the next few years in India to “make in India, supply in India and even export from India” responding to Prime Minister Narendra Modi’s call to global manufacturers, reports The Economic Times.
Trina Solar officials participated in the World Economic Forum held in Delhi last week to actively look for a joint venture partner and study the Indian market.
As far as ‘make in India’ is concerned, the company can make in India, supply in India and even export from India. It is looking for globalized manufacturing, not only ‘make in China’, commented, Zhiguo Zhu, senior vice president, Trina Solar, president, module business unit.
From next year onwards, the company would start expanding outside China aiming for 20-30 percent production to take place outside of China. India is one of the favorable place and the company expected to double its revenue share from India to 10 percent, added Zhu.
It is already operating in India for three years with a market share of over 10percent. Of the total 2,700 Mw solar power capacity in the country, it has supplied solar power to projects with 280 Mw capacity.
Initially, the government has to sort out a few issues that would make India more conducive for business and attractive to foreign investors and Zhu expressed confidence in the India growth story.
India cannot be seen as one country because there are too many provinces and that makes doing business very complicated. It is time-consuming and the government has to make the process simple, added Zhu.
Zhu also spoke of the need for special incentives such as land and infrastructure to foreign companies to facilitate investments. India also needs a simplified taxation structure to create a better business environment, he added.
Sabeena Wahid