“Right now safeguard duty is imposed on solar equipment which will be diluted in a few years. We will increase tariff on solar equipment down the value chain in the coming years,” the minister believed
August 09, 2019. By News Bureau
India will escalate import duty on solar equipment to embolden domestic industry in the upcoming years, Power Minister R K Singh held. He also declared that a storage policy will be disclosed soon which would provide tax incentives, particularly for solar equipment manufacturing in India.
“Right now safeguard duty is imposed on solar equipment which will be diluted in a few years. We will increase tariff on solar equipment down the value chain in the coming years,” the minister believed.
He certain that the growth in import duty will not affect solar energy bidding process in India. India had levied safeguards duty of up to 25 percent on solar cell imports from China and Malaysia in July 2018, in order to boost local business.
Last month, while responding to a question on India’s solar power generation post the implementation of the solar safeguard duty, Singh had said that India has generated over 81 thousand million units (MU) of solar power in the last three financial years (2016-17 to 2018-19) and that the sector observed no slowdown in generation capacity. And that according to data provided by the Central Electricity Authority (CEA), there was a surge in the power generated from solar power plants by 13,797 MUs in the financial year (18-19) from the previous year (17-18).
“There was an increase of 13,797.13 MU in the solar power generation in 2018-19 as compared to the year 2017-18,” the minister detailed in his written response.
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