India is all geared up to impose a 20% charge on imported solar modules, cells and inverters from August, restoring the current safeguard duty. Several local reports perceives that the charge was imposed by Indian power minister RK Singh yesterday during a call with industry representatives, confirming that Prime Minister Narendra Modi’s government considered to impose a Basic Custom Duty (BCD) of 20% on imports.
That BCD, which is witnessed as part of the ‘Make in India’ move, outlined at stimulating domestic manufacturing, would replace the ongoing safeguard duty of 15% meant to expire on 29 July 2020.
The update serves as authentication of duties first bought up within the Union budget sooner this year, which at the time set no specific timeline for bringing up such levies. It would also seem to remove any dilemma over potential exemptions for components as were proposed a month later.
Back in the month of May the government revealed that it has deputed solar PV manufacturing, and an advanced battery manufacture as ‘Champion Sectors’ of national self-reliance which would be supporting both with Incentives.