Import duty on Green Energy Equipment hiked
Posted on : 05 Feb 2020Views: 234
- Solar power developers in India are crying foul over the government’s move to raise tariffs on imports of green energy equipment such as solar cells and modules in the budget.
- The step is aimed at driving local manufacturing of such equipment and discouraging low-quality Chinese imports.
- Once a separate notification is issued, a new duty structure enabling a basic customs duty (BCD) of 20% on cells and modules will come into effect. Such equipment earlier did not attract any BCD.
- The fast-growing domestic market for solar components is dominated by Chinese companies due to their competitive pricing.
- India, the world’s third-largest energy consumer after the US and China, has a manufacturing capacity of 3 gigawatts (GW) for solar cells and imported $2.16 billion worth of solar photovoltaic cells, panels, and modules in 2018-19.
- India is running what will become the world’s largest clean energy programme with an aim of having 175GW of clean energy capacity by 2022 as part of its global climate change commitments.
- It plans to add 100GW of solar capacity by 2022, including 40GW from rooftop projects.
Article Related Questions
Consider the following statements
1.Solar components manufacturing is dominated by Japanese companies.
2.India is the world’s third-largest energy consumer after the US and China.
3.India has plans to add 100GW of solar capacity by 2022, including 40GW from rooftop projects.
Which of the following statement is/are correct?
1.1 and 2 only
2.2 and 3 only
3.1 and 3 only
4.1, 2 and 3
Right Ans : 2 and 3 only