India imposes 25% safeguard duty on solar imports

The Indian government has imposed a safeguard duty of 25% on solar imports from China and Malaysia for two years. The Ministry of Finance (Department of Revenue) levied the duty based on the final recommendations proposed by the Directorate General of Trade Remedies (DGTR). While most industry players are dismayed, believing project costs could “immediately” go up by 15%, others are more optimistic. This action taken by Indian Ministry of Finance can have a serious impact on the availability and the price of PV modules imported to Europe. We are expecting a higher demand for South-East Asia production (Vietnam, Thailand, Taiwan etc.) and therefore higher price and worse availability in Europe in Q4. If there is an update in the global situation, we will inform you accordingly.