As Chinese imports batter Europe, Borosil exits Germany and redirects investment to India’s booming solar glass market, backed by policy support and surging local demand.
Borosil Renewables has initiated insolvency proceedings for its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, as it pivots its focus to India’s fast-growing solar glass sector. The decision follows sustained losses in Germany due to collapsing demand and aggressive pricing from Chinese imports.
In a regulatory filing, the company stated that GMB’s insolvency application was submitted to the Insolvency Court in Cottbus, Germany, in accordance with local laws.
GMB, once a key part of Borosil’s global presence with a capacity of 350 tonnes per day, struggled amid a market flooded with low-cost Chinese solar panels. This triggered a domino effect — demand for German-made modules plummeted, leading to closures and insolvencies among local manufacturers, and wiping out GMB’s market.
Borosil also cited the absence of strong policy support in Europe to counter predatory pricing as a key factor behind the shutdown. As of March 31, 2025, the company’s total exposure to GMB stood at €35.3 million (around ₹3.4 billion).
The insolvency filing on July 4 means the company will no longer report monthly losses from the German unit.
Meanwhile, with India’s solar sector growing rapidly, the company plans to redeploy resources toward domestic expansion.
Borosil recently announced plans to increase its solar glass capacity by 60% with the addition of two new furnaces, totalling 600 tonnes per day, at an investment of ₹9.5 billion. It will be implemented at Borosil’s existing Bharuch, Gujarat production site.
Anti-dumping duties on imports from China and Vietnam, effective from December 2024, have improved market conditions for domestic players. This has led to a 28% rise in average selling prices year-on-year.
India’s solar module manufacturing capacity is expected to touch 150GW by March 2027, creating strong demand for solar glass.
