Finance Minister Sitharaman Assures Solar Industry Stakeholders for BCD Implementation on PV Modules from April 2022
Finance Minister Nirmala Sitharaman has assured the solar photovoltaic (PV) industry stakeholders for the implementation of basic customs duty (BCD) on solar modules at the proposed time i.e. from April 01, 2022.
January 06, 2022. By Manu Tayal
In this regard, a delegation of solar industry associations including the North India Module Manufacturers Association (NIMMA), Indian Solar Manufacturers Association (ISMA), and All India Solar Industries Association (AISIA) has met with the Finance Minister.
The associations have also requested that a notification regarding this be brought in the upcoming Union Budget.
On behalf of the solar associations, the delegation includes - Manish Gupta, Founder and Director of Insolation Energy; Vineet Mittal, Co-founder and Director of Navitas; Arpit Agarwal, Director of Neosol; Manish Agarwal, Director of Enkay Solar; and Sundeep Gupta, Vice-Chairman & Managing Director of Jakson Group.
The meeting took place in the Ministry of Finance, North Block, Delhi under the leadership of Ramcharan Bohra, MP - Jaipur City.
During a meeting, the delegation flagged its concerns regarding manufacturing units that are on the verge of closing owing to the current duty-free window on solar PV panels and solar cells from China and other countries.
Besides, the delegation also appealed to the Finance Minister to exempt the module and cell line plant and machinery from import duty.
Commenting on meeting with the Finance Minister, Manish Gupta, President of NIMMA and Founder and Director of Insolation Energy, said that, “the meeting with the Minister was promising as she recognised that the industry will require policy assistance to grow and achieve its full potential. Implementation of BCD will bring relief to the domestic manufacturing industry. We hope that additional measures to address supply-chain gaps will be considered. Further, this is the peak time for developers to purchase modules, and I request them to promote the government’s Atmanirbhar Bharat initiative and install Indian modules.”
On the development, Bharat Bhut – Co-founder & Director of Goldi Solar, said, “We appreciate the government’s move to implement BCD on schedule. It is a boon for Indian module manufacturers who have been facing stiff price competition from imported modules. Goldi Solar has also increased its module manufacturing capacity to 2.5 GW and plans to expand to 5 GW to align with the Indian Government’s vision in becoming energy-independent with Made in India modules.”
NIMMA has been formed to promote solar PV module manufacturers in India. It was established in October 2017 to promote and voice the concerns of small and medium solar PV module manufacturers.
The organisation also assists its members in developing, promoting and improving the product and manufacturing standards, joint marketing strategies and takes up the concerns of its members with the concerned authorities. The Association also works as a nodal platform for the development and process of scientific and economic research regarding the development and manufacturing of solar PV modules.
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