Govt plans import tariffs on green equipment to boost local industry

NEW DELHI: The Union government may raise tariffs on imports of green energy equipment in a bid to boost their local manufacturing and protect domestic companies from cheaper imports, said Anand Kumar, secretary in the ministry of new and renewable energy (MNRE).

The fast-growing domestic market for solar components is dominated by Chinese companies due to their competitive pricing. The surge in imports led the National Democratic Alliance (NDA) government in its previous term to impose a safeguard duty from 30 July 2018 on solar cells and modules imported from China and Malaysia.

Going forward, more tariff barriers may be introduced for components such as glass, solar cells and gear boxes.