The US department of commerce said it had found “critical circumstances” in its investigation involving firms such as Mundra Solar Energy, Mundra Solar PV, Kowa and Premier Energies.It added that the suspension of liquidation would apply to shipments up to 90 days prior to the order’s publication.
Industry pushes back, calls findings flawed
India’s solar industry has criticised the decision, with National Solar Energy Federation of India (NSEFI) CEO Subrahmanyam Pulipaka saying, “The findings of the investigation seemed to be fundamentally flawed and without any logical basis.”He added that NSEFI has initiated a formal representation to contest the ruling, as per ET.Amit Manohar, secretary general of the Indian Solar Manufacturers Association (ISMA), said the industry would challenge the move further. “We will contest this through the final determination and the ITC proceedings, and remain hopeful of a favourable outcome,” he said.
Exports already hit by high tariff burden
The latest duty adds to existing countervailing duties of over 125%, taking the combined tariff burden on Indian solar exports to more than 200%, effectively making shipments to the US unviable, industry officials told ET.
“With this kind of tariff stack, Indian modules are effectively locked out of the US market,” an industry official said.
Diversification cushions immediate impact
Despite the steep tariffs, exporters have already begun shifting focus to alternative markets such as Europe, West Asia and other emerging regions over the past few years, limiting the immediate fallout.The development comes even as India and the US are engaged in negotiations for a bilateral trade agreement, having recently concluded a three-day round of talks in Washington.Shares of Waaree Energies fell 2.7% to Rs 3,320 on the BSE, while Vikram Solar declined 2.3%. Premier Energies, however, recovered from early losses to close 1% higher.
