Addressing the plenary session of the conference at which 23 heads of nations and 10 ministerial representatives were present in New Delhi, Prime Minister Modi said there should be a full ecosystem for availability and development of technology, economic resources, and development of storage technology, mass manufacturing and innovation.
It is open to all 121 prospective member countries falling between the Tropics of Cancer and Capricorn.
The delegation will leave for Bhopal on March 13 and also, inspect the 50 MW solar park at Ichchawar in Sehore district. It has 60 signatories, with 30 of those countries having ratified the agreement.
ISA is a treaty-based global body for promotion of solar energy in coordination among 121 countries, which are fully or partially between the Tropics of Cancer and Capricorn.
"With the ISA being here, if the ISA will prove itself to be a game changer in the way energy markets evolve, in giving more people access to energy...then India emerges as a leader of climate action", Kanika Chawla, a renewable energy expert at Delhi-based nonprofit Council on Energy, Environment, and Water, told Quartz.
"We have to make sure that a better and more cost effective solar technology is available to all", Modi added.
The ISA member states also agreed "to increase their efforts to pursue an increased share of solar energy in the final energy consumption in our respective national energy mix, as a means of tackling global challenges of climate change and as a cost effective solution by supporting and implementing policy initiatives and participation of all relevant stakeholders, as applicable, in our respective states".
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The conference is being attended by over 20 heads and deputy heads of government. It aims to raise one trillion dollars in funding by 2030.
These nations, Macron said, have 138 gigawatt of solar power potential over the next five years.
Separately, Macron and Modi on Monday inaugurated a 100-megawatt solar power plant built by French firm ENGIE in northern Uttar Pradesh state's Mirzapur area, a key step in meeting the target of 100 gigawatt of electricity in India from solar energy by 2022.
Macron took a jibe at US President Donald Trump at the summit for his decision to withdraw from the Paris climate change agreement.
The UAE, thanks to its wise leadership, remains steadfast in its efforts to support and deploy renewable energy solutions, particularly solar energy, both locally and internationally.
China is targeting over 360 GW of renewable capacity generation during the period.
For his part, Modi pointed out that India has started the world's largest renewable energy expansion program.