Centre to replace safeguard duty with custom duty to protect local manufactures of solar systems
Minister of Power and New and Renewable Energy, R K Singh said that India is going to replace the safeguard duty with the custom duty to protect the local manufactures of solar equipment. He said, some countries are dumping solar equipment at very low prices in the country to destroy local manufactures.
Mr. Singh said, India wants to expand its export base in the solar energy sector like wind energy wherein the country is not only self sufficient but also an exporter. He said, India has the maximum growth and demand of renewable energy as per capita energy consumption is very low in the country.
Talking about the production linked incentive scheme to boost the local manufacturing sector, the Minister said, this scheme will further accelerate the manufacturing.
Terming the PM-KUSUM scheme a second green revolution, Mr. Singh said, this scheme will benefit the farmers by providing subsidy for setting up solar pumps and solar power generation capacity on their barren lands.