India imposes 25 percent safeguard duty on solar cell imports

MUMBAI (Reuters) - India has imposed a 25 percent safeguard duty on solar cell imports for a year to July 29, 2019, a government order published on Monday said, as the country tries to protect the domestic solar industry.

The safeguard duty will not be imposed on imports from developing countries except China and Malaysia, according to the notification.

The federal trade ministry earlier this month recommended imposing a 25 percent duty on imports of solar cells and modules from China for one year to try to counter what it sees as a threat to domestic solar equipment manufacturing.

India imports over 90 percent of its solar equipment from China.

The safeguard duty on imports would be applicable for two years. It would be reduced in the second year to 20 percent for six months, and would be charged at 15 percent for the next six months, the order said.

(Reporting by Sankalp Phartiyal; Editing by Adrian Croft)