Vikram Solar Targets EU, Australia and MENA for Export Market Diversification.

Vikram Solar, one of India’s leading solar module manufacturers, is preparing to expand its global footprint by entering major markets such as the European Union, Australia, and the Middle East and North Africa (MENA) region by the next financial year. The move is part of the company’s strategy to diversify its export base.

At present, export orders account for around 15 per cent of Vikram Solar’s total order book, with the United States being its only overseas market. However, the company says recent policy shifts in the US have affected solar deployment trends.

“The policy landscape in the US has gone through major resets, with the introduction of the One Big Beautiful Bill Act, phase-out of tax credits and other changes. This has been a bit of a dampener for overall deployment of solar energy in the United States. We have seen a reduction in deployment,” Vikram Solar Chairman and Managing Director Gyanesh Chaudhary told businessline.

Chaudhary added that residential solar installations in the US may drop by 20–30 per cent in 2026, while long-term deployment forecasts for utility-scale projects have also been revised downward.