Solar imports drop 40 per cent in January-March

Kolkata: India’s solar imports witnessed a significant decline year-over-year (YoY) in the January-March quarter (Q1) of this year, thanks largely to the imposition of safeguard duty on imports of solar cells and modules last July.

In Q1 2019, solar modules and cells worth nearly $650 million (Rs 4,500 crore) were imported by India, down 40 per cent YoY from the $1.1 billion (Rs 7,600 crore) worth of solar cells and modules imported in Q1 of 2018.