While noting that the sector had witnessed some positive movement in the last year, experts expect the new govt to place the primary focus on domestic manufacturers
New Delhi: On a day when the Bharatiya Janata Party (BJP) is set to make a comeback with a clear majority, the renewable energy industry expects to benefit from the continuity in administration and wants the next government to continue the focus on policy stability to spur growth. "We look forward to the newly-elected government's solar implementation policies and are confident that renewable energy will be a key dimension in their vision as projected in the Interim Budget," said Sunil Rathi, director, Waaree Energies, said.
While noting that the sector had witnessed some positive movement in the last year, with the implementation of safeguard duty and de-linking of the manufacturing tender and introduction of the KUSUM scheme, Rathi said that the new government is expected to continue its support and place the primary focus on domestic manufacturers.
With the safeguard duty set to expire this year, the sector is hoping that the new government will have something to offer on the much-anticipated anti-dumping duty on solar modules. Given the direction that the recent policy initiatives of the government has taken, the industry expects the focus to be on reducing the import of solar equipment from foreign countries including Thailand, China and Vietnam, thus strengthening rupee denomination and contributing to the nation's gross domestic product.
Nikunj Ghodawat, chief financial officer at CleanMax Solar, said that India needs a national-level policy to harness the immense potential of rooftop solar. "We believe such measures will attract additional capital in the sector and help the government to achieve its ambitious renewable energy target, which will accelerate India's adoption of decarbonised electricity in the fight against global warming," he added.