India has set a target of deploying 100 GW solar power by 2022. Solar installations in the country primarily use Photovoltaic (PV) technology. It is estimated that 339-395 GW of solar PV will be deployed by 2040. At present, the domestic cell and module manufacturing capacities stand at approximately 3.2 GW and 8.4 GW, respectively. However, the existing manufacturing capacities are underutilised. This analysis suggests optimal requirements (of plant size, manufacturing processes, raw material procurement, financial incentives, etc.) to attain economies of scale and become price competitive for various supply chain components (polysilicon, wafer, cell, and module). The analysis is based on the conditions of a stand-alone and a vertically integrated module manufacturing plants.