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Solar energy boom turns to bust for Indian manufacturers

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[FONT=&quot]Some of India's biggest solar equipment makers are facing financial collapse, priced out by Chinese competitors as Prime Minister Narendra Modi's government prioritises cheap power over local manufacturing despite his 'Make in India' push.

[FONT=&quot]Several company executives said a lack of scale, absence of raw material supply chains and rapidly changing technology were some of other reasons Indian firms were unable to compete with Chinese manufacturers such as Trina Solar and Yingli.[/FONT][FONT=&quot]
"The government is busy bringing power prices down ... but you can't build castles on graves," Gyanesh Chaudhary, CEO of module maker Vikram Solar told Reuters. "Without a domestic manufacturing ecosystem, no public policy can last for a long time."

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