India Becomes The Biggest Importer Of Chinese Solar Products By Far Accounting For 1/4th Of All Exports
India has become the biggest importer of Chinese solar products in 2017 accounting for almost 25% of all Chinese solar exports and its biggest market. Despite over a hundred manufactures of solar panels, the Indian solar manufacturing industry continues to be in ICU as it is unable to compete on costs and subsidies given to the Chinese companies. Despite being in the solar business for a long time, the Indian companies have failed to develop partly due to the haphazard government policies which have failed to support the industry.
Even as Chinese exports to the USA and European markets have fallen to single digit levels due to safeguard duties and anti-dumping duties, Indian imports have continued to rise at triple-digit rates. The Indian government has kept coming out with draft policies to support domestic manufacturing but failed to implement any of them. Even the most recent safeguard duty which has been prescribed is stuck in bureaucratic red tape and courts. Without a holistic planning structure, the Indian industry has struggled against continuously rising imports which accounted for over 90% of the Indian domestic market.