You are here: Home » International » News » Economy
Business Standard

China's Longi Solar Tech to invest $309 mn in India to avoid trade controls

An Indian regulator says it is considering a 'safeguard tariff' of 70 per cent on solar panels from China and Malaysia

AP/PTI  |  Beijing 

Govt proposes Rs 11k-cr plan to boost domestic solar panel manufacturing

One of China's biggest makers of solar panels today said it will invest $309 million to expand manufacturing in in a move to guard against what it complained is a rising threat of import controls in the and other markets.

Longi Solar Technology Ltd's announcement follows the Trump administration's January 24 decision to impose an extra 30 per cent duty on imported solar modules.

An Indian regulator says it is considering a "safeguard tariff" of 70 per cent on solar panels from and

Chinese manufacturers dominate global solar panel production. Their explosive growth has helped to propel adoption of by driving down costs. But the United States, Europe, and others complain unfairly low-priced exports hurt their manufacturers and threaten thousands of jobs.

The United States, and other non-Chinese markets account for only 10 percent of Longi's sales, according to its strategy director, But he said Longi wants to promote global sales of its latest technology this year.

First Published: Tue, February 06 2018. 16:44 IST