Surana is counting on one of the fastest-growing solar markets where larger local rivals including Moser Baer India Ltd. (MBI), the country’s biggest maker, and Indosolar Ltd. (ISLR) are struggling to cope with the crash in prices.
Prime Minister Manmohan Singh’s government seeks to turn India into a global hub with rules to help almost triple manufacturing capacity to 5 gigawatts by 2020.