ALMM List-II triggers 98% plunge in Chinese cell exports to India
China's exports of photovoltaic modules fell to 15.26 GW in August from 30.82 GW a year earlier, and India's imports from China dropped to 0.07 GW from 2.68 GW in August 2025. Imports of solar cells from China fell to about 0.04 GW in August, down more than 98 per cent from 2.56 GW in April, after the second Approved List of Models and Manufacturers (ALMM List-II) took effect on June 1. The ninth revision of List-II brought listed domestic cell capacity to about 39.4 GW, against 217 GW of module capacity under List-I.
Why it matters: It shows how industrial policy and trade flows interact: domestic content rules can cut imports of cells and modules while dependence on China persists in upstream segments such as polysilicon, ingots and wafers.