The Indian solar power sector imported solar modules and cells totaling around Rs 184.57 billion) in 2018, a 37 per cent decline from Rs 269 billion recorded during the preceding year, mainly due to demand slowdown and imposition of safeguard duty.
Exports of solar cells and modules from India also slumped 19 per cent to Rs 7.61 billion last calendar year as compared to exports of Rs 8.6 billion in 2017, latest trade data shows.
The slowdown in demand and the 25 per cent safeguard duty have contributed to a reduction of solar cell and module imports in 2018. It is unclear how long this trend will last.
Reference- Economic Times, Mercom India