To spice up home manufacturing, the Centre had imposed a 25% safeguard responsibility on photo voltaic imports from China and Malaysia in July 2018 for 2 years, which was prolonged to July 2021, at a fee of 15%. (Consultant picture)
Gautam Photo voltaic on Wednesday placed on stream extra module manufacturing capability at its Haridwar facility, taking the entire capability to 250 megawatts (MW), from the present 120 MW.
The corporate mentioned the growth coverage “aligns very effectively with the federal government’s determination to incentivise photo voltaic manufacturing within the nation”.
The announcement was made two weeks after the Union Cupboard authorized the Rs 4,500 crore production-linked incentive scheme for photo voltaic manufacturing to scale back import dependency. “This has been made potential within the wake of the federal government’s determination to make India a photo voltaic manufacturing hub and cut back its dependency on different nations for importing photo voltaic tools,” Gautam Mohanka, managing director, Gautam Photo voltaic, mentioned.
The home photo voltaic producers are enthused by the market visibility provided by way of numerous central authorities photo voltaic schemes with the obligatory home content material requirement. The prevailing central public sector endeavor scheme goals to arrange 12,000 MW of photo voltaic capability utilizing home ingredient by authorities corporations by FY23.
To spice up home manufacturing, the Centre had imposed a 25% safeguard responsibility on photo voltaic imports from China and Malaysia in July 2018 for 2 years, which was prolonged to July 2021, at a fee of 15%. From the start of FY23, photo voltaic module imports will appeal to a primary customs responsibility of 40%.
About 50% of the nation’s 14 GW photo voltaic manufacturing capability presently stays unutilised, as builders have most popular to import cheaper tools, principally from China, to construct photo voltaic vegetation. Nevertheless, total photo voltaic imports within the first ten months of FY21 have fallen to $393 million from $1.6 billion in the identical interval a yr in the past as photo voltaic capability addition fell 45% to 4.8 GW and module costs fell by about 20%.