Markets & Policy

India to raise customs duty on solar inverters

Imported inverters and solar lanterns may become costlier from April, as the new budget raised the charges levied on them from 5%, for each category, to 20% and 15%, respectively.
Uma Gupta
By
Uma Gupta
The budget was announced by Indian minister for finance and corporate affairs, Nirmala Sitharaman. | Image: Press Information Bureau on behalf of Ministry of Finance, Government of India/Wikimedia Commons/https://bit.ly/3oEyZlb

India’s new union budget has attempted to boost domestic manufacturing by raising import duties on finished products including PV inverters and solar lanterns.

Imported solar-project components and structures will also get more costly but the price of the raw materials they are made from, such as coated steel for mounting structures, will get a helping hand, with a eight-month suspension of anti-dumping duties.

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