Borosil Renewables has moved to exit its German solar glass business, with its step-down subsidiary GMB Glasmanufaktur Brandenburg GmbH filing for insolvency, as the company shifts focus to the fast-growing Indian solar glass market.In a regulatory filing, Borosil said GMB has applied for the commencement of insolvency proceedings before the Insolvency Court in Cottbus, Germany, under the German Insolvency Code (InsO). The decision follows a comprehensive assessment of market viability, strategic priorities, and continued losses caused by plunging demand, PTI reported.“The challenges for GMB began with slide in demand for German made solar panels, when faced with the precipitous drop in prices by Chinese manufacturers of solar panels,…