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Supreme Court unveils stay on safeguard duty on solar imports

<p><span style="font-size:11.0pt">Domestic Manufacturers of solar equipment aggrieved by increase in imports from China and Malaysia at more competitive rates had reached Director General of Safeguards in December 2017, agitating that imports are debilitating their business. Domestic manufactures of solar equipment could not match up prices with imported ones due to economies of scale and less expensive finances. In January 2017, Director General of Safeguards recommended to impose a safeguard duty of 70% for 200 days on solar imports in a preliminary order. Which later on imposed 25% for the first year, 20% for the first six months of the second year and 15% for the remaining six months. </span></p> <p><span style="font-size:11pt">MNRE and solar EPC developers are of view that imposition would slow down pace of solar development in India and solar tariff may shoot up by Rs. 40-60 per unit. Supreme Court has unveiled stay put by Odisha High Court on safeguard duty. It is appraised that solar tariffs may see a rise in near future.</span></p>