Centre to raise tariff barriers on imported solar and wind equipment

The development comes at a time when India continues to explore all possible options when it comes to bridging its enormous trade deficit with manufacturing powerhouse China

To promote the domestic manufacturing capacity of solar and wind equipment, the government will increase tariff barriers on imported solar panels, wind turbines and their components. Imported Chinese solar equipment are likely to be affected the most.

This comes at a time when India is exploring all options to bridge its enormous trade deficit with China. As of FY19, the deficit stood at $53 billion, down $10 billion after India raised import duties on a broad range of products — mostly originating from China — as many as eightfold in 2018.

Speaking at curtain raiser of RE-Invest, India’s flagship investor