US Imposes 126% Tariff on Indian Solar, Anti-Dumping Threat Looms

• US Commerce Department imposes preliminary countervailing duties up to 126% on Indian solar panels and cells, citing government subsidies.
• Waaree Energies, Premier Energies, and Vikram Solar are identified as the most affected Indian companies due to their significant US export share.
• The decision follows a complaint from US solar companies like First Solar, Hanwha Qcells, and Mission Solar Energy, alleging unfair competition.
• Indian solar exports to the US reached $792.6 million in 2024, a nine-fold increase from 2022, now facing severe impact.
• Shares of Waaree Energies, Premier Energies, and Vikram Solar saw significant drops following the announcement, with Waaree falling 10%.