Solar cos see low impact of US countervailing duty
India exported cells and modules worth `340 billion to the US between April 2023 and November 2025
New Delhi: Domestic players like Vikram Solar, Waaree Energies, and Premier Energies, said the US decision to impose countervailing duties on certain solar goods from India will have a limited impact on them.
The US has announced a preliminary countervailing duty of 125.87 per cent on imports of certain Indian solar goods, alleging that these products are unfairly subsidised. The new levy will add to the 10 per cent overall tariffs announced by the Donald Trump administration on all countries from February 24.
Commenting on the move, Vikram Solar CMD Gyanesh Chaudhary said, "Our US order strategy was not structured around sourcing Indian cells; we already operate with a diversified supply chain for that market, including sourcing from geographies with lower tariff exposure. As a result, the direct financial impact on us is limited." Besides, with the Cabinet's decision to ease evacuation infrastructure, the company expects domestic installation momentum to accelerate further, he noted.
"At this stage, the company does not anticipate any material adverse impact on its ability to service its US order book," said Abhishek Pareek, Group Head, Finance, Waaree Energies.
The company said in the first nine months of FY26, it has continued to ramp up its shipments to the US even though the steep 50 per cent duty was in force.
Vinay Rustagi, Chief Business Officer, Premier Energies, said, "Premier Energies has already reduced its share of exports in our business to almost nil, and there is no impact of any US duties on our business." He said that exports to the US fell more than 50 per cent in 2025, and are currently estimated at only about 5-7 per cent of total production.
The imposition of countervailing duty has, therefore, no material impact on us, he added. Emmvee Photovoltaic Power Ltd also said in a statement that there is no impact on its business operations due to the latest duty, as the company's integrated solar cell and module manufacturing is primarily aligned to the domestic demand.
