A new US antidumping investigation into imported solar modules from India has raised alarm bells across an entire industry, jeopardizing billions in exports and unsettling Indian manufacturers. The investigation was initiated by a group of American solar manufacturers, alleging that Indian exporters engage in unfair pricing practices and benefit from subsidies that distort their market.
The probe occurs during a pivotal moment, as India constitutes roughly 8% of US solar imports, or about 4.4 GW of plans for 54 GW of anticipated imports in 2024. Following a formal investigation, the US Department of Commerce could pursue preliminary tariffs as early as August, followed by final duties late in 2025 if the claims are confirmed.
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For Indian manufacturers, the consequences could be immediate. Waaree Energies would carry the greatest impact, as roughly half of its order book was associated with the US market. Other manufacturers like Premier Energies may have greater capacity for domestic production and thus, might be less exposed to risk, but others would still feel potential pressures.
Nevertheless, cautiously optimistic sentiments permeate a broader industry. India's solar manufacturing has expanded to 74 GW of solar modules and 25 GW of solar cells, and government support could potentially alleviate effects on exports. With ambitions to scale to 125 GW and 40 GW by 2030, the sector is preparing to pivot toward self-reliance and new markets.
While the US remains a key destination, Indian solar companies may need to diversify quickly to stay competitive amid rising global trade scrutiny.
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