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Safeguard Duty on Solar Import Temporarily Stayed

<p><span style="font-size:9.0pt">The Indian Solar Manufacturers Association (ISMA), a forum of local manufacturers, had complained to the Director General of Safeguards last December against the rapidly growing imports of solar equipment, claiming it was destroying domestic solar industry. Indian solar market imports 90% of solar equipment majorly from China and Malaysia as price of imports from these countries are significantly lower than domestic players. Accordingly, Directorate General of Trade Remedies (DGTR) had recommended imposing safeguard duty of 25% on solar panels and modules imported from China and Malaysia for a year, followed by 20% for the next six months, and 15% for another six, to safeguard interest and market of domestic players.</span></p> <p><span style="font-size:9pt">Following which ACME challenged the DGTR&rsquo;s recommendation in the Odisha High Court, which temporarily stayed its notification until it had ruled on the case. Further, The ministry of finance has temporarily stayed the imposition of safeguard duty on solar panels and modules imported from China and Malaysia till the writ petition challenging the decision is disposed off by the Odisha high court.</span></p>