Cheap Chinese tools killing Indian firms

New Delhi: The country’s new energy companies were being “crushed” due to the dramatic slashing of prices of solar equipment by Chinese industry and the government will have to adopt regulatory measures to safeguard Indian interests, Union Minister Farooq Abdullah said in New Delhi today.

Addressing a meeting on new energy, the Union Minister for New and Renewable Energy said, “The price of these panels has come down basically from China. Our own industry is suffering because these Chinese are bringing the prices of their panels down so dramatically to crush our industry.”

Abdullah admitted that the slashing of prices has helped in bringing down the cost of one unit of solar power from Rs 18 to Rs 7 in recent times but the country will have to safeguard its interests to help the local producers. Read More