India considers slashing import taxes on solar panels

01 Jun 2023 CW Team

India is considering reducing import taxes on solar panels and seeking a rollback in goods and services taxes (GST) on these devices to address a shortage in local production and meet the increasing demand for renewable energy.

The renewable energy ministry in India has engaged in discussions with the finance ministry to gain approval for the proposed reduction of the import tax on solar panels from 40% to 20%, the sources revealed. They emphasised that the decision is not yet finalised and hence requested anonymity.

Furthermore, the two ministries are contemplating recommending a reduction in the goods and services tax (GST) on solar panels from 12% (imposed in 2021) to 5% to the Goods and Services Tax Council, the sources added.

The 40% import tax on solar panels was implemented by India in April 2022, along with a 25% tax on solar cells, with the intention of discouraging imports from China. This move was aligned with Prime Minister Narendra Modi's ambitious plan to foster self-reliance and reduce emissions by expanding renewable energy generation.

However, one of the sources acknowledged that domestic production capacity falls short of meeting the demand, necessitating the need for imports to bridge the gap.

The proposal emerges as Prime Minister Modi aims to achieve a target of 365 gigawatts (GW) of installed solar capacity by 2031-32. This target is part of a broader push towards green energy, encompassing initiatives such as promoting electric vehicles and sustainable aviation fuel.

As of now, the finance ministry of India has not responded to email inquiries seeking comments. A spokesperson for the renewable energy ministry has assured that a comment will be provided at the earliest opportunity.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..