Safeguard Duty: R K Singh Says Nothing Can Jeopardise Clean Energy

R K Singh also stated that the proposed duty would not affect the already bid out projects during the installation phase

Amid fears over adverse impact of proposed safeguard duty on solar equipment, Minister of state for power, new and renewable energy R K Singh said that nothing can jeopardise India’s renewable energy target of 175 GW by 2022.

Singh also stated that the proposed duty would not affect the already bid out projects during the installation phase.

The Minister expressed hope that the government would bring out policy for boosting domestic solar equipment manufacturing with higher financial assistance than proposed Rs 11,000 crore.

“Nothing will be done which will jeopardise achievement of the target set by the Prime Minister for establishing the 175 GW renewable energy… but as far as this (safeguard duty) is concerned, we are going to have discussions,” Singh told reporters.

While commenting on the new projects the minister said, “The duty regime which prevails at the time of bid will be duty regime for entire installation. The duty would be for new projects if at all imposed. Both are questions, whether it would be imposed and what is the quantum (of duty).”

The Directorate General of Safeguards had last month proposed to impose 70 percent safeguard duty on import of solar power equipment from countries like China for 200 days to protect domestic industry from “serious injury”.

Power Minister also commented about the policy for boosting domestic solar equipment manufacturing, he said, “The draft policy of domestic solar manufacturers was circulated. Manufacturers want slight increase in the aid (than proposed Rs 11,000 crore). we got the comments. We framed the policy. Now we will go to EFC (expenditure finance committee for its approval).”

Source: PTI