India to hike import duty on solar equipment in coming years: Power Minister
NEW DELHI: In a bid to encourage domestic manufacturing, India will increase import duty on solar equipment down the value chain in the coming years, Power Minister R K Singh said on Thursday.
“Right now safeguard duty is imposed on solar equipment which will be diluted in few years. We will increase tariff on solar equipment down the value chain in coming years,” the minister said at a curtain raiser press conference on 3rd Global RE-Invest.
Allaying fears that any hike in import duty may increase solar energy tariff bidding rate, he assured that it will not impact solar energy bidding process in India.
