US Imposes Heavy Tariffs on Indian Solar Imports, Shares Plummet

• US government imposes preliminary tariffs of 126% on solar panel products imported from India.
• Indian solar company shares, including Varayee Energies and Premier Energies, fell up to 10% after the announcement.
• Tariffs are based on the view that foreign government subsidies harm US domestic manufacturers.
• US solar imports from India reached $792.6 million in 2024, nearly nine times higher than 2022.
• Experts warn high tariffs could make the US market inaccessible for Indian solar manufacturers, impacting export-oriented companies.