Indian Solar Giants Unfazed by US Countervailing Duties

Amidst rising tensions due to US countervailing duties on Indian solar imports, leading solar industry players in India, such as Vikram Solar and Waaree Energies, remain resilient. They attribute this to their diversified supply chains and strong focus on the booming domestic market.

Vikram Solar's CMD, Gyanesh Chaudhary, emphasized that their strategy in the US market does not rely heavily on Indian-origin cells, thereby minimizing the financial impact of the duties. Recent successes, like a major module order for a project in Gujarat, illustrate the firm's robust domestic momentum.

Waaree Energies also echoed similar sentiments, noting continued shipment ramp-ups to the US despite prior duties. Meanwhile, Premier Energies reported zero export disruption due to the ongoing duties, highlighting a strategic shift towards the domestic market. Experts suggest that while US tariffs could intensify local competition, many manufacturers are adapting by sourcing from lower-duty regions.