India Imposes Safeguard Duty on Imported Solar Panel Modules
The latest on the imposed safeguard duty on imported solar panel modules.
According to a government order published on Monday 30th July 2018, India will impose a 25% safeguard duty on solar panels imported from China and Malaysia for the next two years.
As per DGTR’s recommendations, a 25% safeguard duty will be imposed on panels imported from these two countries, followed by 20% for the next six months and 15% for another six. To maintain returns, developers may have to hike tariffs by 30-35 paise per unit.
The Ministry of Finance has notified the people of the DGTR’s (Directorate General of Trade Remedies) decision to impose the duty. The DGTR had responded to a complaint from the Indian Solar Manufacturers Association (ISMA) last December by conducting its own investigation. This complaint was centred around how the cheaper imports from countries such as China and Malaysia were harming the sales of local Indian solar manufacturers.
In fact, more than 90% of panels and modules used in Indian solar projects come from these two countries.
Insolergy Technologies is a leading solar power company in India. To inquire, call / Whatsapp: 9082786504 or leave a message.