Safeguard Duty on Solar to cause 30% Decline in Demand

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As one of the fastest growing economies, India decisively opted for solar development, understanding its potential to lift the country out of financial, social, and industrial darkness. The announcement of targeting 100 GW solar energy by 2022 evidently created an environment of urgency and brought forth a plethora of opportunities for industrial development. As a result, our country quickly became the second most attractive renewable energy market in the world. However, Government of India’s decision to impose Safeguard Duty on solar imports stands to undo the growth India accomplished through enhancing domestic solar manufacturing capacities. Many in the industry argue that the new policy is completely opposite of what our Solar mission and Make in India initially stood for.

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How Domestic Solar Manufacturing Can Make ‘Make In India’ Dream A Reality

Under the leadership of Hon’ble Prime minister Shri Narendra Modi, our government’s strategies and multi-pronged operation sequences for ‘Make in India’ initiative has given Indian solar industry hope for new opportunities. The initiative was expected to bring more investment, job opportunities, and a platform for technology upgradation in the promising industries, especially solar sector.

Expectations

Make in India initiative was supposed to give a long term policy direction with large scale deployment goals, increased spending on R&D, domestic production of critical raw materials across the value chain, and to have focus in development of components and products within the country to mass manufacture and control supply chain of lucrative sectors like- Solar.

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