Hon’ble Chief Minister of Tamil Nadu, Thiru C. Joseph Vijay Inaugurated Vikram Solar’s 6 GW Solar PV Module Manufacturing Plant at Gangaikondan

Hon’ble Chief Minister of Tamil Nadu, Thiru C. Joseph Vijay Inaugurated Vikram Solar’s 6

GW Solar PV Module Manufacturing Plant at Gangaikondan

Chennai, Tamil Nadu, 14 th August: The Hon’ble Chief Minister of Tamil Nadu, Thiru C. Joseph Vijay,

today virtually inaugurated Vikram Solar’s 6 GW Solar PV Module Manufacturing Plant at

Gangaikondan, Tirunelveli, as part of a state-level programme held at Chennai.

The inauguration marked a significant milestone in Vikram Solar's manufacturing journey,

underscoring the company's commitment to building large-scale, world-class solar infrastructure in

India. The inauguration was attended by Ms. S. Keerthana, Industries Minister; Dr. M. Sai Kumar IAS,

Chief Secretary of Tamil Nadu; Dr. S. Vijayakumar IAS, Additional Chief Secretary – Industries; Dr. D.

Karthikeyan IAS, Principal Secretary and CMD – TIDCO; Thiru. Kumar Jayant IAS, Chairman and

Managing Director – TNPL; Thiru. S. A. Raman IAS, Managing Director, SIPCOT; Thiru. Deepak Jacob

IAS, Managing Director and CEO - Guidance Tamil Nadu and other bureaucrat and government

officials were present. Representing Vikram Solar, Mr. Sameer Nagpal, CEO, Vikram Solar Limited,

was also present at the inauguration proceedings.

Vikram Solar’s Gangaikondan facility represents a significant milestone in the company’s long-term

manufacturing strategy and its commitment to Tamil Nadu. Set within a larger greenfield campus of

nearly 186 acres, the 6 GW solar PV module manufacturing plant is among the most advanced

facilities in the country and is expected to create employment opportunities for more than 800

skilled professionals in the region.

The facility is also envisioned as an important building block towards Vikram Solar’s larger ambition

of establishing an integrated solar manufacturing ecosystem in India. Over the coming years, the

Gangaikondan campus is planned to progressively expand beyond module manufacturing to include

solar cell, wafer and ingot manufacturing, bringing key stages of the solar value chain together at a

single location.

As part of its broader manufacturing roadmap, Vikram Solar plans to establish 9 GW of solar cell

manufacturing capacity by FY27 and expanding to 3 GW by FY28. The expansion is aimed at

deepening domestic value addition, strengthening supply-chain resilience and creating sustained

industrial and employment opportunities in Tamil Nadu.

Mr Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar, said: “We are grateful to the

Hon’ble Chief Minister and the Government of Tamil Nadu for their continued support in enabling

this facility and for creating an ecosystem that encourages large-scale manufacturing investments.

Tamil Nadu offers a strong industrial foundation, skilled talent and a progressive environment for

manufacturing-led growth. Our investment here reflects our long-term commitment to the State, to

local employment and to building a more self-reliant clean energy value chain in India. The

Gangaikondan facility is an important step in our journey towards building an integrated solar

manufacturing ecosystem, and we are proud to contribute to Tamil Nadu’s industrial growth and

renewable energy ambitions.”

This Independence Day, India’s Shift Towards Higher Life Insurance Coverage Signals Greater Financial Preparedness

 This Independence Day, India’s Shift Towards Higher Life Insurance Coverage

Signals Greater Financial Preparedness

Mumbai, August 14, 2026: An analysis of life insurance business data for

FY2021–FY2025 compiled by the Insurance Information Bureau (IIB) of India

points to an encouraging shift in India’s protection landscape.

The data shows that existing policyholders are progressively strengthening their

financial protection by opting for higher levels of coverage. With changes in life

cycle, responsibilities evolve. Recognising the same, increasingly, consumers are

enhancing their coverage. These trends reinforce growing consumer confidence in

life insurance as a long-term financial safety net. They also highlight the benefits

of starting one’s protection journey early.

The IIB analysis shows a clear movement towards higher-value life insurance

cover across all policy segments over the last five years. Between FY2021 and

FY2025, higher sum assured categories witnessed consistent growth, reflecting a

clear shift towards enhanced insurance protection and higher coverage levels

among policyholders. The share of policies with a sum assured between ₹2 lakh

and ₹5 lakh increased by 5.6% points, while the ₹10 lakh–₹25 lakh category

gained 2% points. At the higher end of the spectrum, the number of policies with

a sum assured exceeding ₹50 lakh grew by 68% from 4.4 million in FY2021 to 7.4

million in FY2025, generating annual premium of ₹975 billion.

Meanwhile, in FY2021, nearly two-thirds (65.1%) of all in-force life insurance

policies had a sum assured of ₹2 lakh or less. By FY2025, this proportion had

declined significantly to 53.6%. Also, every higher sum assured category

registered consistent growth over the same period.

The data also indicates that policyholders are consistently investing more towards

their financial protection. While the total number of in-force life insurance

policies has remained broadly stable at around 343 million over the five-year

period, the average annual premium per policy increased by 42.6%, rising from

₹15,567 in FY2021 to ₹22,195 in FY2025. Together, these trends suggest that

policyholders are strengthening their insurance cover over time rather than

viewing life insurance as a one-time or tax-saving purchase.

Mr. Kamlesh Rao, Chairperson, Insurance Awareness Committee (IAC)- Life, said,

“The IIB data clearly demonstrates that Indians who stay invested in life insurance

increasingly recognise its value and strengthen their protection as their lives and

responsibilities evolve. It is encouraging to see policyholders consistently moving

towards higher levels of insurance cover, reflecting a growing commitment to

financial security for themselves and their families. For those who have not yet

begun their life insurance journey, the message is simple—the earlier you start,

the more time you have to build comprehensive financial protection that can grow

alongside your aspirations and responsibilities.”

Several factors are driving the shift towards higher coverage and premium outlay.

Growing awareness of the importance of life insurance, rising incomes, inflation,

and evolving life stages and responsibilities have all contributed to greater

demand for comprehensive protection. The Covid-19 pandemic and its aftermath

further highlighted protection gaps, prompting individuals to reassess their

financial resilience. At the same time, insurers have introduced more tailored

solutions catering to diverse customer needs, making life insurance more relevant

and accessible. Importantly, customers have understood the unique value

proposition of life insurance. As a long-term protection and financial security tool,

it complements other investment avenues. Most other traditional savings or

investment products help create wealth whereas life insurance protects against

the risks and volatility while doing the same.

The Insurance Awareness Committee – Life (IAC-Life) said these trends

underscore the importance of viewing life insurance as a lifelong financial

companion rather than a one-time purchase. Beginning early enables individuals

to secure protection at a younger age, benefit from lower premiums, and

gradually enhance their coverage as their income, responsibilities and long-term

financial goals grow.

IAC-Life will continue to leverage insights from the IIB study to design targeted

awareness initiatives that encourage more Indians to begin their life insurance

journey early and build lasting financial resilience through adequate and evolving

protection.