Renewables ministry proposes customs duty cut for wind power inputs
after close1 source ↓written by the desknot a recommendation
- on specialty steel
- 15% customs duty
- 7.5% duty
India’s renewables ministry has proposed lowering the 15% customs duty on specialty steel used in wind turbine gearboxes. This move aims to address the inverted duty structure that currently favors imported gearboxes, which have a 7.5% duty. The proposal is crucial for boosting local manufacturing and reducing reliance on imports. ⚡
The change could enhance competitiveness for domestic producers and support India's localization goals in the wind energy sector.
Not investment advice. For informational purposes only.