New Delhi, Feb. 25 -- India is finalising a USD 1 billion capital subsidy plan to strengthen its solar manufacturing sector, aiming to reduce its reliance on China and capitalise on the global shift toward renewable energy, sources familiar with the matter revealed.

The initiative, spearheaded by the Ministry of New and Renewable Energy, focuses on domestic production of wafers and ingots-key components in solar panels-where India currently lags.

The plan has gained support from top advisers in Prime Minister Narendra Modi's office and is expected to be presented to the cabinet in the coming months.

India's solar sector remains heavily dependent on China for critical imports, posing a potential risk to energy security. While India has ...