Is Customs Duty Hike Sufficient to Incentivize Domestic Manufacture of Solar Inverters?
Manufacturers suggest the government introduce a 'Phased Manufacturing Plan' for components used in making solar inverters
February 15, 2021
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In the Budget 2021, the Finance Minister proposed to raise the customs duty on solar inverters from 5% to 20% and on solar lanterns from 5% to 15% to encourage domestic production. The government believes that by hiking the duties and increasing the cost of imports, manufacturers will be incentivized to “Make in India.”