RENEWABLE ENERGY

Solar sector imports down 83 per cent even before govt checks begin

The Covid-19 pandemic has dealt a severe blow to India’s solar equipment imports from China, even before various government initiatives to check imports and boost domestic manufacturing set in.

As per Commerce Ministry data, Indian imports declined by 83 per cent in the April-June quarter of current fiscal, totalling $69 million (Rs 515 crore) as compared to $399 million (Rs 2,970 crore) during the same period last year.

These months saw the maximum impact of Covid-19 with lockdowns in several parts of the country and economic activity coming to a grinding halt.

On a quarter-on-quarter (QoQ) basis, Indian solar imports fell by 54 per cent in April-June quarter, from $150.5 million (Rs 1,120 crore) in the January-March period.

Source
ET energy World
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