Impact of US Tariffs on Indian Solar Manufacturers: A Limited Repercussion
Several Indian solar manufacturers, including Vikram Solar, Waaree Energies, and Premier Energies, report limited impact from the US imposition of countervailing duties on solar imports. Despite high duties, domestic strategies and diversified supply chains have insulated them from significant financial effects, as they focus on increasing domestic market share.
- Country:
- India
Indian solar manufacturers are expressing a degree of resilience in response to the US government's imposition of 125.87% countervailing duties on certain solar imports from India, citing minimal impact on their operations.
Prominent players like Vikram Solar and Waaree Energies indicate that their existing strategies and diversified supply chains mitigate financial repercussions from these tariffs. Vikram Solar's CMD, Gyanesh Chaudhary, emphasized their non-reliance on Indian cells for US orders, while Waaree Energies highlighted their continued market momentum.
The countervailing duties, seen as a deterrent to Indian solar exports, come amid predictions of increased domestic output. Industry experts caution that growing international regulatory uncertainty may pressure Indian manufacturers' profitability, though efforts to expand operations domestically could help offset challenges.
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