The government has already taken steps like customs duties and the Approved List of Models and Manufacturers (ALMM) to support domestic players, but Borosil’s Executive Chairman, Pradeep Kheruka believes more action is needed, especially as demand for solar glass is already outstripping supply.
“We are now looking at an anti-dumping duty to be imposed on the imports of solar glass on top of the basic customs duty. The government is signalling an intent to help local industry to develop away from the effects of artificial artificially low prices in the shape of dumping,” Kheruka said. .
While Indian manufacturers are more efficient, Chinese players benefit significantly from subsidies, giving them a competitive edge, he said, stressing the importance of introducing a minimum import price (MIP) to counter such tactics.
“For example, after the 10% customs duty was announced on July 23, Chinese exporters reduced their prices to India by 15% by August 7. The MIP will make such dumping tactics ineffective,” he noted.
According to Kheruka, the government sees ₹56,000 per tonne as a fair price for solar glass, whereas imports from China are priced as low as ₹28,000 per tonne.
China’s cut in export rebates on solar modules
and components starting December 1 is expected to raise electricity tariffs in India temporarily.
The rebate for solar modules will drop from 13% to 9%, while rebates on ancillary items like aluminium and copper wires will be completely removed.
India’s solar module market is witnessing unprecedented growth.
Kheruka pointed out that capacity has surged from 15 GW to 75 GW, with plans for an additional 75 GW. Module manufacturing is currently 75 GW, is expected to go to 150 GW in next 2 years.
Projects totaling 50 GW are on hold due to uncompetitive pricing for domestic solar glass.
The company, which has a market capitalisation of ₹5,773 crore, has seen its shares rise 6% over the last year.
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