- The report added that MNRE said in a memo dated March 9 that the proposal of Ministry of New and Renewable Energy (MNRE) to impose basic customs duty on solar cells and modules
- India is targeting ramping up its solar capacity to 280 GW by 2030-31 from about 39 GW currently as per the memo
As per a report by Reuters, India will levy a customs duty of 40 per cent on solar modules and 25 per cent on solar cells from April 2022, according to a government document and two industry sources familiar with the matter. India wants to ramp up its renewable capacity to 175 gigawatts by 2022 and 450 GW by 2030, from about 93 GW presently.
Currently levy a customs duty on imports of solar cells and modules
The report added that MNRE said in a memo dated March 9 that the proposal of Ministry of New and Renewable Energy (MNRE) to impose basic customs duty on solar cells and modules (without grandfathering of bid out projects) has been agreed to by the Ministry of Finance. India does not currently levy a customs duty on imports of solar cells and modules. It has a safeguard duty to protect its local industry which expires in July.
India is targeting ramping up its solar capacity to 280 GW by 2030-31 from about 39 GW currently as per the memo.
