New Delhi, Feb. 11 -- Amid rising oversupply in the solar module segment in India, the industry should shift its focus from rapid capacity addition to backward integration and manufacturing maturity, as upstream segments such as cells, wafers, ingots and polysilicon remain relatively underdeveloped, according to a report by Elara Securities.

The report noted that oversupply in modules is outstripping near-term demand, pivoting India's solar module industry away from aggressive expansion towards strengthening the upstream value chain.

While module manufacturing has scaled up significantly, upstream segments continue to lag, creating structural imbalances within the ecosystem.

It stated, "Oversupply in module outstrips near term demand, ...