Indian solar investment fell 15% year-on-year to US$9.8 billion in 2018

In 2018, investment in India's solar sector totaled about $9.
8 billion, down nearly 15%
from $11.
5 billion in 2017.

Although downstream investment declined year-on-year due to reduced solar installations and lower system costs, total solar investment in India approached $10 billion
in 2018 due to increased investment in upstream activities in new manufacturing facilities.
In 2018, India added 8.
3 GW
of new large-scale and rooftop solar installations.

2018 was a challenging year for the Indian solar market, including GST rate issues, safeguard duties on solar cells and modules in China and Malaysia, and the cancellation of a 4 GW tender by government agencies due to high tax rates, leading to a decline in installations in the Indian solar market for the first time since 2014
.
However, the imposition of safeguard taxes has also led to an increase
in domestic manufacturing capacity.

Indian solar companies did not receive any significant venture capital or private equity investment
in 2018.