Union Minister Bhagwanth Khauba Champions Solar Manufacturing Boost with PLI, Advocates Fair Pricing and Duty Caution

In a significant development, Shri Bhagwanth Khauba, the Union Minister of State for New & Renewable Energy, has underscored the pivotal role of schemes like the Production Linked Incentive for High Efficiency Solar Panel manufacturing, allocating an impressive budget of Rs. 24,000 crores. The minister emphasized that such initiatives will substantially boost the indigenous production of solar panels. Speaking at the inaugural session of the 1st India Solar Manufacturing Summit in New Delhi on December 15, 2023, organized jointly by the National Solar Energy Federation of India (NSEFI), Solar Power Europe, and EU India Clean Energy and Climate Partnership, Shri Khauba urged industry stakeholders to adopt reasonable pricing for solar modules. He cautioned against taking undue advantage of basic customs duty, which could lead to an unwarranted spike in domestic panel prices, emphasizing the need for competitive pricing to benefit domestic developers.

Highlighting the government’s holistic approach for sustainability and mutual benefits, the minister affirmed ongoing consultations with all stakeholders to ensure fairness and justice. He launched a significant report during the event titled “PV Supply Chain Resilience & Sustainability – India-EU Cooperation Study.”

In his keynote address, Shri Khauba acknowledged the emergence of solar manufacturing as a key sector in India, aligning with the nation’s commitment to ambitious targets set at COP and the goal of achieving Net Zero by 2070. He underscored the significance of the “Aatmanirbhar Bharat” initiative, emphasizing self-reliance across sectors. The minister conveyed global appreciation for India’s initiatives, citing endorsements from leaders such as President Vladimir Putin of Russia.

Assuring investors of a stable government and policy certainty in the years ahead, Shri Khauba encouraged them to capitalize on the available opportunities. The event, attended by industry representatives and officials from the Ministry of New & Renewable Energy, marks a significant milestone in India’s commitment to advancing solar manufacturing and sustainable energy practices.