The Government of India has imposed an import duty of up to Rs 58,000 per tonne on solar glass imported from China and Vietnam. This move is part of a broader effort to shield domestic manufacturers from aggressive foreign pricing and to promote self-reliance in the renewable energy sector.
Objective:
Protect Domestic Industry: By levying this duty, India aims to support homegrown solar glass manufacturers like Borosil Renewables.
Reduce Dependency: The policy encourages reduction in imports for critical components used in renewable energy projects.
Encourage Investment: Domestic players may benefit from increased pricing power and expanded market share.
Strategic Implications:
Renewable Energy Push: Aligns with India’s renewable energy goals under “Atmanirbhar Bharat.”
Global Trade Dynamics: May spark responses from China and Vietnam, potentially impacting bilateral trade discussions.
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