Vikram Solar, Waaree Energies See Limited Impact from US Countervailing Duties on Indian Solar Imports

Vikram Solar, Waaree Energies See Limited Impact from US Countervailing Duties on Indian Solar Imports​

New Delhi, February 25: Vikram Solar and Waaree Energies have indicated that they do not foresee any significant negative impact from the United States decision to impose preliminary countervailing duties on certain solar products imported from India.

The comments come after the US Department of Commerce announced preliminary countervailing duties of 126 per cent on specific solar imports from India.

Vikram Solar Cites Diversified Supply Chain Strategy​

Gyanesh Chaudhary, Chairman and Managing Director of Vikram Solar, said the preliminary anti dumping and countervailing duties apply specifically to cells of Indian origin.

He clarified that the company’s US order strategy was not based on sourcing Indian cells. Instead, Vikram Solar operates with a diversified supply chain for the US market, including sourcing from regions with lower tariff exposure.

“As a result, the direct financial impact on us is limited,” Chaudhary said.

He added that the recent Cabinet decision to ease evacuation infrastructure is expected to accelerate installation momentum in the domestic market.

Highlighting recent business traction, Chaudhary pointed to a 378.75 MW module order secured from Indian Oil–NTPC Green Energy for a large scale project in Gujarat, reflecting continued demand strength.

Waaree Energies Confident on US Order Book Execution​

Waaree Energies also expressed confidence in its US operations despite the new duty structure.

Abhishek Pareek, Group Head Finance at Waaree Energies, said the company does not anticipate any significant negative impact on its ability to fulfil its US order book.

He clarified that his remarks refer specifically to the US Department of Commerce’s recent announcement on the imposition of preliminary countervailing duties of 126 per cent on certain solar imports from India.

During the first nine months of FY26, Waaree Energies said it continued to increase its shipments to the US, even after the earlier imposition of a 50 per cent duty on imports from India.

US Manufacturing Expansion Plans Underway​

The company is also in the process of expanding its US manufacturing capacity to approximately 4.2 GW by the end of the current financial year. The expansion remains subject to operational ramp up timelines and other customary factors.

With diversified sourcing strategies and ongoing capacity expansion, both Vikram Solar and Waaree Energies signalled operational resilience amid evolving US trade measures on Indian solar products.