The Union Budget 2018 was extremely balanced and announced schemes in support to the domestic manufacturing sector. However the effect of the initiatives was dampened without any supporting policies and initiatives for domestic solar manufacturing in the country.
The confusion regarding Goods and Services Tax (GST) caused delays in execution of projects, further affecting the development of the sector. Now, as the call for sustainable and renewable energy as alternate power source becomes urgent, there is a corresponding expedited requirement to propel the sector forward in India.
We hailed the implementation of safeguard duty, but without any robust anti-dumping policies in place, and safeguard duty applicable only on a few countries, it has been extremely easy to navigate around it.
Most of the imports are now being routed via Thailand and Vietnam, at rates that are not sustainable for domestic manufacturers to match. Read More
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