US Duty Rattles Indian Solar Stocks

Indian solar companies' shares fell sharply after the US imposed a 125.87% duty on certain imported solar goods from India, alleging unfair subsidies. Waaree Energies, Premier Energies, Vikram Solar, and Sterling and Wilson Renewable Energy were affected. The duty follows increased US solar imports from India, reaching $792.6 million in 2024.

Shares of Indian solar companies took a nosedive on Wednesday following the US announcement of a preliminary countervailing duty of 125.87% on imports of specific Indian solar products.

The move comes as the US accuses New Delhi of unfairly subsidizing these goods. Waaree Energies saw its stocks plunge by 14.99%, Premier Energies fell by 14.23%, Vikram Solar declined by 7.47%, and Sterling and Wilson Renewable Energy dropped by 1.41% on the Bombay Stock Exchange.

The US Department of Commerce's February 24, 2026, ruling is aligned with its earlier investigations into crystalline silicon photovoltaic cells, imported not just from India but also Indonesia and Laos. The duty is a distinct measure from the previous Trump-era 10% tariffs. The surge in US imports from India, which rose from $83.86 million in 2022 to $792.6 million in 2024, was also noted in the order.

(With inputs from agencies.)