: Govt’s plan to remove solar import restrictions rile local manufacturers #FinanceIndia #StockMarketNEWS Govt’s plan to remove solar import restrictions rile local manufacturers New Delhi, Feb

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Govt’s plan to remove solar import restrictions rile local manufacturers #FinanceIndia #StockMarketNEWS
Govt’s plan to remove solar import restrictions rile local manufacturers New Delhi, Feb 17 (KNN) Domestic manufactures of solar modules have expressed disappointment over government’s plan to ease imports of solar modules, reported ET.

As per the report it will have vast impact on India’s goal of broadening its local production in a rapid manner.

Officials are considering a relaxation of rules for the next two years that restrict imports from China and other foreign producers, because local plants can’t keep up with rising demand, as per ET.

This will also hinder the initiatives introduced by Prime Minister Narendra to both raise the use of renewable energy and encourage more manufacturing under his “Make in India” campaign.

“Such volatile changes in government policy show that businesses can’t be dependent on policy support,” Vinay Rustagi, managing director at Bridge to India, a renewable energy consulting firm told ET.

India is aiming to install 280 gigawatts of solar generation by 2030, compared to about 64 gigawatts now, as it overhauls its coal-dominated power grid.

That would require the addition of 27 gigawatts of capacity every year for the rest of the decade — more than double the volume installed last year, according to BloombergNEF forecasts. (KNN Bureau)