pv magazine: Why was the anti-dumping petition withdrawn?
Dhruv Sharma: The market dynamics have altered fundamentally during the course of the anti-dumping duty (ADD) investigation. We noticed a consistent drop in prices from China and a sharp increase in volume. The domestic industry composition has also changed. The preliminary investigation report into the safeguard investigation itself demonstrates how the situation changed in just one quarter. Hence it was pertinent to look at refiling the ADD in the light of the changed scenario.
What is ISMA now planning as a next step?
ISMA will avail all the available remedies to protect its interests. ISMA also appeals to the government for expeditious completion of the safeguard investigation, which will protect domestic manufacturing, employment, check the huge outflow of foreign exchange, and stabilize the market.
To achieve the target of 100GW, the foreign exchange, to the tune of INR 2.44 trillion ($37.5 billion, at November import prices), will be remitted out of the country on the import of cells/panels alone. If you add the returns for foreign investors, this figure will grow manifold.
We are not vying for 100% market share but a healthy competition and an environment in which solar manufacturing (thereby jobs and associated economic activity) and development go hand in hand. We are confident that the authorities will dispassionately evaluate the facts and come to an optimal solution.
Isn’t this action a setback for India’s domestic manufacturing?
We view this as the right move to protect our interests. We believe our case is squarely covered within the situations for which trade remedy laws were conceptualized and framed. We are confident of a fair outcome at the end of this exercise because facts are on our side and a proper remedy will spur growth.
We are also confident of a positive outcome in safeguard duty investigation. This protection to domestic industry which is in-line with what many leading nations such as U.S., Europe have levied will give impetus to Make-in-India vision of the honorable PM.