FM Nirmala Sitharaman assures industry BCD on solar modules to be implemented from April 1, CFO News, ETCFO

Finance Minister Nirmala Sitharaman assured that basic tariffs on solar modules will be implemented from the scheduled date of April 1, 2022, a decision that will prevent domestic players from fierce price competition for solar panels. imported modules, according to the industrial organization NIMMA.

A delegation made up of representatives from NIMMA, the Association of Indian Solar Product Manufacturers and the Association of Solar Industries of India met with Sitharaman on Thursday and raised concerns about the manufacturing units that are on on the verge of closing due to the current franchise period on solar panels and cells from China. and other countries.

The Minister of Finance assured them that the BCD (Basic Custom Duty) would be implemented on schedule from April 1, 2022, according to a statement from NIMMA.

The delegation also asked her to exempt the plant and machinery of modules and cell lines from import duties, she said.

“The meeting with the Minister was promising, as she recognized that the industry will need political assistance to develop and realize its full potential.

“The implementation of the BCD will bring relief to the domestic manufacturing industry. We hope that additional measures to address the gaps in the supply chain will be considered. In addition, it is the peak time for the developers of the BCD. ‘buy modules, and I ask them to promote Atmanirbhar of Bharat government and install Indian modules, “said Manish Gupta, president of the North India Module Manufacturers Association (NIMMA).

Bharat Bhut – Co-founder and director of Goldi Solar, a solar power maker, said the move is a boon for Indian module makers who have faced stiff price competition from imported modules.

Goldi Solar has also increased its module manufacturing capacity to 2.5 GW and plans to expand it to 5 GW to align with the government’s vision of becoming energy independent with Made in India modules.

In the delegation, Manish Gupta, Vineet Mittal, Arpit Agarwal, Manish Agarwal and Sandeep Gupta were present on behalf of the solar associations.

NIMMA was established in October 2017 to promote PV solar module manufacturers in India and voice the concerns of small and medium enterprises in the sector.

NIMMA helps its members to develop, promote and improve product and manufacturing standards, common marketing strategies and supports the concerns of its members with relevant authorities.

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