News Details

Many Electronic Equipment and Components Made in India, Still Imported: Power Minister

  • The Power Minister pointed out that from the data on item-wise quantum of imports in power sector given by DGCI
  • Aatmanirbhar Bharat, as per the minister, has a much higher level of significance for the power sector

R.K. Singh, Union Minister of Power, New and Renewable Energy and Skill Development and Entrepreneurship (IC) interacted with developers of generation and transmission projects in Power and Renewable Energy sector. The Union Power Minister emphasized the importance of the movement for ‘Aatmanirbhar Bharat’ in order to promote manufacturing of goods and services in India and to create jobs.

He pointed out that from the data on item-wise quantum of imports in power sector given by DGCI (Directorate General of Commercial Intelligence), Department of Commerce it is seen that many equipment like transmission line towers, conductors, industrial electronics, capacitors, transformers, cables and insulators and fittings etc. in respect of which domestic manufacturing capacity exists, are still being imported.

Power is a sensitive and strategically important sector

Singh pointed out that Power is a sensitive and strategically important sector, as all our communications, manufacturing, data management and all essential services depend on power supply and any malware may bring down the system.

“Therefore, ‘Aatmanirbhar Bharat’ has a much higher level of significance for Power sector,” read an official press note released by the ministry.

The ministry has now urged the developers to not import any equipment/materials/goods in respect of which there is sufficient domestic capacity. He also mentioned recent constitution of an FDI Cell and a Project Development Cell in the Ministries of Power & NRE. The FDI Cell will vet proposals for investment from countries that shares borders with India.

The Project Development Cell will hand-hold investible projects so that the process of investment is accelerated. He further informed the meeting that the practice of issuing concessional custom certificates for certain import items in the RE sector will be discontinued from a date that will be specified separately.

The Union Minister further informed the meeting of the Ministry’s proposal to impose Basic Custom Duty (BCD) beginning August, 2020 on solar modules, solar cells and solar inverters. He said that a clear trajectory of BCD would be declared so that there is no uncertainty about government policy.

Source: https://www.electronicsb2b.com/