Strengthening Ties: India-China Relations Boost Solar Supply Chain
Improved India-China relations are positively impacting Indian solar manufacturers by solidifying the solar supply chain without risking market dumping—a concern mitigated by government policies. Vikram Solar's CMD, Gyanesh Chaudhary, highlights protective measures like customs duties and the PLI scheme that ensure domestic industry safety and growth.
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- India
The bilateral relationship between India and China is proving beneficial for the Indian solar manufacturing sector, streamlining raw material supply chains while safeguarding against market dumping. Government measures like customs duties and incentives have fortified this progress, according to Gyanesh Chaudhary, CMD of Vikram Solar.
Chaudhary emphasizes that with strategic implementation of duties and guidelines, Indian solar manufacturers are less impacted by cheap imports. The policies have nurtured a protective ecosystem that promotes domestic manufacturing, reducing dependency on Chinese imports from near totality to around eighty percent, with expectations for further decline.
As the domestic solar industry grows, Chaudhary remains optimistic about the support from Indian policies while acknowledging international markets' potential. Although exports currently contribute minimally to revenue, strong international partnerships, particularly with the US, hold promise for future growth, he noted.
(With inputs from agencies.)
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