Import duty on Green Energy Equipment Increased by 20%

Finance Minister Nirmala Sitharaman has increased the import duty of green energy equipment like cells by 20% in the Budget 2020-21. The aim is to drive local manufacturing of the equipment and lowering the import of low-quality Chinese equipment.

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Currently, India is the third-largest consumer of energy after US and China. The manufacturing capacity of India as of now is 3 GW for solar cells.

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Finance Minister Of India: Nirmala Sitharaman

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