US EditionIndia’s Solar Industry, Aiming to Compete with China, Finds Strength as US Tariffs Hit Home
Indian exporters urge Reserve Bank of India to weaken rupee to counteract 50% US tariffs that heavily impact textiles and jewelry sectors, key to millions of livelihoods.
- President Donald Trump's 50% tariffs on Indian goods to the US took effect last month, primarily targeting trade barriers and Russian oil purchases.
- These tariffs came amid India's efforts to expand solar manufacturing and reduce dependence on imports, though challenges remain in raw material supply chains.
- ReNew’s factory near Jaipur produces 4 gigawatts annually, powering about 2.5 million homes, supported by government policies restricting imports and incentivizing local manufacturing.
- The Indian rupee has declined by 2.8% relative to the US dollar so far this year, with experts suggesting that currency depreciation is currently the primary policy option to help counteract the negative effects of tariffs on exports.
- India's growing domestic solar demand and clean energy targets of 500 gigawatts by 2030 could offset US market losses, but sustained policy support and multi-dimensional government action remain crucial.
19 Articles
19 Articles
Associated Press News
India’s solar industry, aiming to compete with China, finds strength as US tariffs hit home
India’s clean energy appetite is helping the country’s solar power industry wean itself off imported Chinese parts and continue growing even as it faces a tougher sell to its biggest foreign customer, the United States.
'US Tariffs Are Making It Hard to Keep My Textile Factory in Panipat Running'
Panipat, the cast-off capital of the world that processes over 1 lakh tonnes of global textile waste and serves as a hub for the 'shoddy yarn' industry, is facing an existential crisis after Donald Trump raised tariffs on Indian imports to 50%.The US President's move has effectively pushed us out of the competition to export our goods to America.In Panipat, there are more than 400 exporters like me, and the textile industry employs approximately…
Indian Exporters Lobby RBI for Weaker Rupee to Offset US Tariffs
Indian exporters said they will lobby the central bank to allow them to temporarily convert proceeds from their US business at a rupee rate that’s 15% lower than current levels, to help cushion the blow from President Donald Trump’s punitive tariffs.
Export Lobby Seeks Rupee At 103 Per Dollar To Offset US Tariffs
Indian exporters said they will lobby the central bank to allow them to temporarily convert proceeds from their US business at a rupee rate that’s 15% lower than current levels, to help cushion the blow from President Donald Trump’s punitive tariffs.Exporters are seeking a rupee exchange rate of around 103 per dollar for US earnings, Pankaj Chadha, chairman of the Engineering Export Promotion Council of India, said in a phone interview. The rupe…
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