India Imposes 25% Safeguard Duty on Solar Cell Imports
Sankalp Phartiyal
Real journalism holds power accountable
Since 2015, The Wire has done just that.
But we can continue only with your support.
Mumbai: India has imposed a 25% safeguard duty on solar cell imports for a year till July 29, 2019, said a government order published on Monday, as the country tries to protect the domestic solar industry.
According to the notification, the safeguard duty will not be imposed on imports from developing countries, except China and Malaysia.
The federal trade ministry earlier this month recommended imposing a 25% duty on imports of solar cells and modules from China for one year to try to counter what it sees as a threat to domestic solar equipment manufacturing.
India imports over 90% of its solar equipment from China.
The safeguard duty on imports would be applicable for two years. It would be reduced in the second year to 20% for six months, and would be charged at 15% for the next six months, said the order.
(Reuters)
This article went live on July thirty-first, two thousand eighteen, at three minutes past one in the afternoon.The Wire is now on WhatsApp. Follow our channel for sharp analysis and opinions on the latest developments.