Dependent on China, India plans to extend solar fees?

Imports have plunged by 77 per cent
As the second largest economy, China is an indispensable part of the global industrial chain, so Indian products are highly dependent on China, especially in the important new energy sector -- solar energy related equipment, India is also dependent on China. In the last fiscal year (2019-20), China accounted for 79.5% of the Indian market. However, India's imports of solar cells and modules plunged in the first quarter, possibly linked to a move to extend charges for solar components from China.

According to cable.com on June 21, the latest trade statistics show that In the first quarter of this year, India's imports of solar cells and modules were only $151 million, plunging 77% year-on-year. Even so, China remains firmly in the top spot for solar cell and module imports, with a 79 percent market share. The report comes after Wood Mackenzie released a report that said India's external supply dependence is "crippling" the local solar industry, as 80% of the solar industry relies on imported photovoltaic equipment from China and labor shortages.

It is worth mentioning that In 2018, India decided to charge additional fees for solar cell and module products from China, Malaysia and other countries, which will end in July this year. However, in an effort to give its solar producers a competitive edge, India proposed in June to extend charges for such products from countries such as China, cable Reported.

In addition, India is planning to impose additional charges on about 200 products from China and other regions, and carry out stricter quality checks on another 100 products, foreign media reported on June 19. India's economy is flagging, and higher import costs could further drive up local prices, putting a heavy financial burden on local consumers.(Source: Jinshi Data)


Post time: Mar-30-2022