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Indian solar panel exporters on edge as US launches anti-dumping probe
Experts say that if the anti-dumping duty is invoked, it is quite likely to result in making export of solar panels from India to the US economically unviable.
The anti-dumping (AD) and countervailing duty (CVD) investigation was launched after a group of US solar manufacturers accused that these exporters, from India, Indonesia, and Laos, were getting unfair government subsidies.
And it comes on the heels of the US slapping 50 per cent tariffs on Indian imports, barring pharma and electronics.
Companies such as Waaree, Adani Enterprises, and Vikram Solar collectively exported around 4.4 gigawatts (gW) of modules to the US in 2024, accounting for a significant share of India's overseas shipments. With over 95 per cent of India's FY24 module exports destined for the US, the investigation introduces considerable exposure risk.
The development is even more disturbing, given the initiations are for impositions for countervailing as well as anti-dumping duties.
'The Indian solar panel industry has been growing at a steady pace and the value of exports to the US are nearly to the tune of ₹7,000 crores. Considering this, the impact of these moves can completely jeopardize the industry, which needs to put up a stout defence against the proposed imposition of these duties,' Manish Mishra, partner and head of practice, indirect tax at law firm JSA Advocates & Solicitors told Business Standard.
The investigations are based on petitions filed by the Alliance for American Solar Manufacturing and Trade (AASMT) and supported by major US solar firms.
They allege substantial dumping margins, 213.96 per cent for India, 89.65 per cent for Indonesia, and 245.79-249.09 per cent for Laos, along with claims of countervailable subsidies. These measures, the petitioners argue, are undermining the competitiveness of US manufacturers and violating trade law.
'From the perspective of the countries under investigation, many of these programmes, including India's production linked incentive (PLI) scheme and duty structures are part of national strategies to promote domestic renewable energy manufacturing and meet climate commitments. This raises a wider question of how industrial policy for the clean energy transition interacts with existing trade remedy frameworks under WTO rules,' said Jatinder Cheema, an energy, natural resources and climate change lawyer.
Indian exporters have gained significant traction in the US market in recent years, filling a supply gap created by earlier anti-dumping and countervailing duties on imports from China and several Southeast Asian nations, as well as restrictions under the Uyghur Forced Labour Prevention Act.
The recently announced US tariffs on Indian imports add another layer of trade pressure.
Under the new policy, a 25 per cent tariff on all imports from India will take effect on August 27, 2025, in addition to the 25 per cent reciprocal tariff already in place since April. This results in a combined 50 per cent general tariff on Indian goods, applicable to solar products alongside any future duties from the ongoing investigation.
'Together, these measures could substantially raise the landed cost of Indian solar cells and modules in the US, potentially affecting their competitiveness,' Cheema said.
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